In the general release for Bang Cookies, what is the 'RELEASEE' released and discharged from?
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 general release requires the releasor to release and discharge the releasee (Bang Cookies Franchise LLC), its heirs, officers, members, agents, executors, administrators, successors, and assigns from a comprehensive list of potential legal claims. This includes all claims, actions, causes of action, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, claims, and demands whatsoever, in law, admiralty, or equity. This release extends from the beginning of the world to the date of the release.
In simpler terms, by signing this release, a franchisee (the releasor) agrees to waive virtually any legal claim they might have against Bang Cookies (the releasee). This covers a broad spectrum of potential issues, from contractual disputes to financial disagreements, and even potential tort claims. The release is designed to protect Bang Cookies from past, present, and future legal actions related to the franchise agreement.
This type of general release is a common practice in franchising. However, prospective franchisees should carefully consider the implications before signing. It is crucial to understand that you are giving up your right to sue Bang Cookies for a wide range of potential grievances. Franchisees should consult with an attorney to fully understand the scope of the release and whether any specific claims should be excluded. The document also specifies that the release cannot be changed orally, emphasizing the importance of a written agreement.
It's also important to note that some states may have franchise laws that limit the enforceability of such releases, as indicated elsewhere in the FDD concerning Maryland and New York law. Franchisees should be aware of their rights under state law and how they may impact the general release.