Who is considered the Franchisee in the General Release Agreement for Afuri Ramen Dumpling?
Afuri_Ramen_Dumpling Franchise · 2024 FDDAnswer from 2024 FDD Document
- A. For purposes of this Agreement "you" may include an individual, corporation, partnership, limited liability company or other legal entity. "You" includes any corporation, partnership, limited liability company, individual, combination of individuals, or other legal entity that owns a majority interest of you, or in which you own a majority interest. The term "you" will include all persons who succeed to your interest by transfer or by operation of law.
Source: Item 23 — Receipts (FDD pages 50–189)
What This Means (2024 FDD)
According to the 2024 Afuri Ramen Dumpling FDD, the term "you" in the General Release Agreement encompasses more than just the individual franchisee. It extends to various legal entities that may be involved in the ownership or operation of the franchise.
Specifically, "you" may include an individual, corporation, partnership, limited liability company, or other legal entity. This definition also includes any corporation, partnership, limited liability company, individual, or combination of individuals that owns a majority interest in the franchisee or in which the franchisee owns a majority interest.
Furthermore, the term "you" includes all persons who succeed to the franchisee's interest, whether through transfer or by operation of law. This broad definition ensures that the General Release Agreement applies not only to the original franchisee but also to any successor entities or individuals who may later assume ownership or control of the franchise.