In the Anago Guaranty execution section, what information is required to be filled in under the 'By' section?
Anago Franchise · 2025 FDDAnswer from 2025 FDD Document
By signing below, the undersigned spouse of each Guarantor indicated below, acknowledges and consents to the guaranty given herein by his/her spouse. Such consent also serves to bind the assets of the marital estate to Guarantor's performance of this Guaranty. We confirm that a spouse who signs this Guaranty solely in his or her capacity as a spouse (and not as an owner) is signing merely to acknowledge and consent to the execution of the Guaranty by his or her spouse and to bind the assets of the marital estate as described therein and for no other purpose (including, without limitation, to bind the spouse's own separate property).
You now execute this Guaranty on the date shown above
Source: Item 23 — RECEIPTS (FDD pages 62–298)
What This Means (2025 FDD)
Based on the 2025 FDD, the Anago franchise agreement's Guaranty execution section requires the guarantor to sign and date the document. The spouse of each guarantor must also sign, acknowledging their consent to the guaranty and binding the assets of the marital estate to the guarantor's performance. This spousal consent is specifically for acknowledging the execution of the Guaranty by their spouse and to bind the assets of the marital estate, not to bind the spouse's separate property if they are not an owner. The guarantor and their spouse execute the Guaranty on the date indicated.
This requirement ensures that Anago has a legally binding agreement with the guarantor, who is typically a principal of the entity owning the franchise. The spousal signature adds an extra layer of security, as it acknowledges the spouse's awareness of the financial commitment and potentially involves marital assets. This is a common practice in franchising to protect the franchisor's interests.
Prospective Anago franchisees should carefully review the Guaranty with their legal and financial advisors to fully understand their obligations and potential liabilities. They should also ensure that their spouse is fully informed and consents to the terms of the Guaranty before signing. Failing to properly execute the Guaranty could have significant legal and financial consequences for both the franchisee and their spouse.