Franchising : The Grenoble Court of Appeal decides that the franchise contract, entered into by a franchisee who does not obtain the administrative authorization necessary for the exercise of his activity, is neither null nor void (Réponse financement)

Facts. Specialized in the marketing, by brokerage, of credit and loan insurance, SAS Réponse Financement has set up a network of franchisees under the brand name "Vousfinancer.com", which Mrs. X joined by entering into a five-year franchise agreement in July 2016, prior to her registration with ORIAS as an intermediary in banking operations and payment services, as required by Article L. 519-3-1 of the Monetary and Financial Code and which the franchise agreement also required (clause on compliance with professional obligations as an intermediary in banking operations and payment services). However, Ms. X, who had falsely declared on her honor that she complied with the conditions of good repute set forth in Article L. 500-1 of the Monetary and Financial Code, had her application for