What release must the transferor (and their Owners) execute when transferring a Beef O Bradys franchise?
Beef_O_Bradys Franchise · 2025 FDDAnswer from 2025 FDD Document
- (g) General Release.
You (and your transferring Owners**)** have executed a general release, in the form attached to the Franchise Disclosure Document, of any and all claims against us and our shareholders, officers, directors, employees and agents;
- (v) you (and your Owners) must execute a general release, in the form attached to the Franchise Disclosure Document as Exhibit N, of any and all claims against us, our affiliates and our officers, directors, employees and agents;
FORM OF RELEASE
The following is our current general release form that we expect to include in a release that a franchisee, developer, and/or transferor may sign as part of a renewal, approved transfer or purchase by us of the assets of a franchisee's Family Sports Pub.
We may periodically modify the release.
THIS RELEASE is given by and their predecessors, agents, affiliates, legal representatives, agents, successors, assigns, heirs, beneficiaries, executors and administrators (collectively, "we," "us" or "ours"), to FSC FRANCHISE CO, LLC and all of its predecessors, affiliates, owners, officers, employees, legal representatives and agents, directors, successors and assigns, and their heirs, beneficiaries, executors and administrators (collectively, "you" or "your").
Effective on the date of this Release, we forever release and discharge you from any and all claims, causes of action, suits, debts, agreements, promises, demands, liabilities, contractual rights and/or obligations, of whatever nature or kind, in law or in equity, which we now have or ever had against you, including without limitation, anything arising out of that certain Franchise Agreement dated (the "Franchise Agreement"), the franchise relationship between the parties, and any other relationships between you and us; except your obligations under the ______ Agreement dated effective ______ .
This Release is effective for: (a) any and all claims and obligations, including those of which we are not now aware; and (b) all claims we have from anything which has happened up to now; provided, however, that all liabilities arising under Indiana Code Sec. 23-2-2.7, the Maryland Franchise Registration and Disclosure Law and/or the Minnesota Franchise Act are excluded from this release, and that all rights enjoyed by us under the Franchise Agreement and any causes of action arising in our favor from the provisions of Article 33 of the General Business Law of the State of New York and the regulations issued thereunder will remain in force; it being the intent of this proviso that the non-waiver provisions of General Business Law, Section 687.4 and 687.5 be satisfied.
Source: Item 23 — RECEIPTS. (FDD pages 66–330)
What This Means (2025 FDD)
According to Beef O Bradys's 2025 Franchise Disclosure Document, as part of transferring a franchise, the transferor and their owners must execute a general release. This release, the form of which is attached as Exhibit N to the Franchise Disclosure Document, involves the transferor releasing Beef O Bradys, its affiliates, and their respective officers, directors, employees, and agents from any and all claims against them.
The release covers all claims, causes of action, suits, debts, agreements, promises, demands, liabilities, contractual rights, and/or obligations, of whatever nature or kind, in law or in equity, which the transferor has or ever had against Beef O Bradys. This includes anything arising out of the Franchise Agreement, the franchise relationship, and any other relationships between the parties.
The release is effective for any and all claims and obligations, including those of which the transferor is not currently aware, and all claims from anything that has happened up to the date of the release. However, certain liabilities arising under specific state laws such as the Indiana Code, the Maryland Franchise Registration and Disclosure Law, and/or the Minnesota Franchise Act are excluded from this release. Additionally, rights enjoyed by the transferor under the Franchise Agreement and causes of action arising from the provisions of Article 33 of the General Business Law of the State of New York will remain in force.