Does the General Release in the All States M.E.D. Franchise Agreement release past officers of the Releasee?
All_States_M_E_D Franchise · 2024 FDDAnswer from 2024 FDD Document
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- Release- Franchisee and all of Franchisee's guarantors, members, officers, directors, employees, agents, successors, assigns and affiliates fully and finally release and forever discharge Releasee, its past and present agents, employees, officers, directors, members, Franchisees, successors, assigns and affiliates (collectively "Released Parties") from any and all claims, actions, causes of action, contractual rights, demands, damages, costs, loss of services, expenses and compensation which Franchisee could assert against Released Parties or any of them up through and including the date of this Release.
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- The above Release shall not apply to any liabilities arising under the California Franchise Investment Law, the California Franchise Relations Act, Indiana Code § 23-2-2.5.1 through 23-2-2.7-7, the Maryland Franchise Registration and Disclosure Law, Michigan
- Franchise Investment Law, Minnesota Franchise Act, North Dakota franchise laws, the Rhode Island Investment Act, and the Washington Franchise Investment Protection Act.
Source: Item 23 — RECEIPTS (FDD pages 44–174)
What This Means (2024 FDD)
According to All States M.E.D.'s 2024 Franchise Disclosure Document, the General Release includes past officers of the Releasee. Specifically, the release extends to the 'Releasee, its past and present agents, employees, officers, directors, members, Franchisees, successors, assigns and affiliates (collectively "Released Parties")'.
This means that by signing the General Release, the franchisee agrees to release All States M.E.D. and all the listed parties from any claims, actions, or demands that the franchisee might have against them up to the date of the release. This includes not only current officers but also those who previously held such positions.
However, the release does not apply to liabilities arising under specific state franchise laws, such as those in California, Indiana, Maryland, Michigan, Minnesota, North Dakota, Rhode Island, and Washington. Furthermore, in North Dakota, franchisees are not required to sign a general release upon renewal of the franchise agreement, and certain provisions concerning choice of law, jurisdiction, venue, jury waiver, and waiver of punitive damages are modified or deleted.