In the general release for Bang Cookies, who is considered the 'RELEASOR'?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
TO ALL TO WHOM THESE PRESENTS SHALL COME OR MAY CONCERN, KNOW THAT: , as RELEASOR, in consideration of good and valuable consideration received from: Bang Cookies Franchise LLC, as RELEASEE, receipt of which is hereby acknowledged, releases and discharges the RELEASEE, RELEASEE'S heirs, officers, members, agents, executors, administrators, successors and assigns, from all claims, actions, causes of action, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, contracts, promises, variances, trespasses, damages, judgments, extents, executions, claims, and demands whatsoever, in law, admiralty or equity which against the RELEASEE, the RELEASOR, RELEASOR'S, heirs, executors, administrators, successors and assigns ever had, now have or hereafter can, shall or may, have for, upon, or by reason of any matter, cause or thing whatsoever from the beginning of the world to the day of the date of this RELEASE. The words "RELEASOR" and "RELEASEE" include all releasors and releasees under this Release. This Release may not be changed orally. IN WITNESS WHEREOF, the RELEASOR has hereunto set RELEASORS' had and seal on the date set forth below. Releasor: Signature Name (please print) Date NOTARY SIGNATURE, SEAL AND INFORMATION: Onbefore me, the undersigned, personally appeared personally known to me or proven to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity/capacities, and that by his/her/their signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument. Notary Signature and Sea
Source: Item 23 — RECEIPTS (FDD pages 56–245)
What This Means (2024 FDD)
According to Bang Cookies' 2024 Franchise Disclosure Document, the 'RELEASOR' in the general release is the party providing the release in exchange for consideration from Bang Cookies Franchise LLC, which is the 'RELEASEE'.
In practical terms, the releasor is the party who is giving up their rights to make any future claims or take legal action against Bang Cookies. This is a standard legal practice to protect the franchisee from potential liabilities. The general release covers a broad range of potential claims, including actions, suits, debts, damages, and demands from the beginning of time to the date of the release.
Prospective Bang Cookies franchisees should carefully review the general release with their legal counsel to fully understand the scope of the claims they are waiving. It is important to note that the release cannot be changed orally and must be signed by the releasor. This ensures that the agreement is legally binding and that all parties are aware of their rights and obligations.