What is the statute of limitations for breach of warranty under the Aira Fitness Fitness Equipment Lease?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
Notes:
- (1) You must purchase or lease the Initial Fitness Equipment Package fromus. You can pay the purchase price for the initial fitness equipment in full or we will lease you the initial fitness equipment. You will sign the standard formInitialFitnessEquipmentPurchase Agreement alongwith the PersonalGuaranty that is attached to this Disclosure Document as Exhibit F or you will sign the standard form Fitness Equipment Lease along with the Personal Guaranty that is attached to this Disclosure Document as Exhibit G. We do not require any partieswho do not have ownership interest in the franchise to sign the Personal Guaranty. Under the Fitness Equipment Lease, you waive (i) rights and remedies under Sections 2A-508 through 12A-522 of the Uniform Commercial Code (UCC); (ii) rights to require our affiliate to mitigate damages; and (iii) the right to trial by jury. Additionally, under the Fitness Equipment Lease, the statute of limitations for breach of warranty is limited to 1 year.
Source: Item 10 — **FINANCING (FDD pages 36–38)
What This Means (2025 FDD)
According to Aira Fitness's 2025 Franchise Disclosure Document, the statute of limitations for breach of warranty under the Fitness Equipment Lease is limited to 1 year. This means that if a franchisee believes Aira Fitness has breached a warranty related to the leased fitness equipment, they must bring any legal action within one year of the date the cause of action accrued, or they will likely be barred from doing so. This limitation is a significant factor for prospective franchisees to consider.
This one-year limitation applies specifically to the Fitness Equipment Lease. The FDD also mentions a Pod Package Lease, which also has a one-year statute of limitations for breach of warranty. Both leases also include a waiver of rights and remedies under Sections 2A-508 through 12A-522 of the Uniform Commercial Code (UCC), a waiver of rights to require Aira Fitness's affiliate to mitigate damages, and a waiver of the right to trial by jury.
It is important for potential Aira Fitness franchisees to carefully review the terms of both the Fitness Equipment Lease and the Pod Package Lease, understand the implications of the limited statute of limitations for warranty claims, and consult with a legal professional to assess their rights and obligations under these agreements.