factual

In the context of the Afuri Ramen Dumpling franchise agreement, who is referred to as 'you'?

Afuri_Ramen_Dumpling Franchise · 2024 FDD

Answer 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 Franchise Disclosure Document, the term 'you' in the franchise agreement refers to the franchisee. This includes individuals, corporations, partnerships, limited liability companies, or other legal entities that enter into the agreement with Afuri Ramen Dumpling.

Specifically, the definition of 'you' extends beyond just the primary franchisee. It also encompasses 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. This ensures that the obligations and responsibilities outlined in the franchise agreement apply not only to the franchisee directly but also to any controlling entities or individuals associated with the franchise.

Furthermore, the term 'you' includes all persons who succeed to the franchisee's interest, whether through transfer or by operation of law. This means that if the franchise is transferred to a new owner or if ownership changes due to legal reasons such as inheritance or court order, the new owner or successor will also be bound by the terms of the franchise agreement and considered 'you' under the agreement. This comprehensive definition ensures that Afuri Ramen Dumpling maintains consistent control and standards across all its franchise locations, regardless of changes in ownership or legal structure.

Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.