What notices and defenses does a Beehive Homes Guarantor waive under the Guaranty?
Beehive_Homes Franchise · 2025 FDDAnswer from 2025 FDD Document
-
- Waivers of Certain Rights and Defenses. Each Guarantor waives: (a) any right or claim that Guarantor may have to require that an action be brought against Franchisee or any other person as a condition of Guarantor's liability under this Guaranty; (b) all rights to payments and claims for reimbursement or subrogation which any of the undersigned may have against Franchisee arising as a result of Guarantor's execution of and performance under this Guaranty; (c) any law or statute which requires that Franchisor make demand on, assert claims against or collect from Franchisee or any others, foreclose any security interest, sell collateral, exhaust any remedies or take any other action against Franchisee or any others before making any demand on, collecting from or taking any action against Guarantor under or with respect to this Guaranty; (d) any right or claim Guarantor may have that a release or discharge of Franchisee under the Franchise Agreement is a release or discharge of Guarantors under the Franchise Agreement or this Guaranty; and (e) any and all other notices and legal or equitable defenses to which Guarantor may be entitled.
Source: Item 23 — RECEIPTS (FDD pages 34–123)
What This Means (2025 FDD)
According to the 2025 Beehive Homes Franchise Disclosure Document, a Guarantor waives certain rights and defenses. Specifically, the Guarantor waives any right to require that Beehive Homes first bring an action against the franchisee or any other person before pursuing the Guarantor. This means Beehive Homes can seek payment or performance directly from the Guarantor without having to sue the franchisee first.
The Guarantor also waives all rights to payments and claims for reimbursement or subrogation against the franchisee that arise from the Guarantor's obligations under the Guaranty. Additionally, the Guarantor waives any legal requirement that Beehive Homes make a demand on, assert claims against, or collect from the franchisee or others before taking action against the Guarantor. This allows Beehive Homes to immediately pursue the Guarantor without exhausting other remedies.
Furthermore, the Guarantor waives any claim that a release or discharge of the franchisee under the Franchise Agreement also releases or discharges the Guarantor. Finally, the Guarantor waives any and all other notices and legal or equitable defenses to which the Guarantor may be entitled. This comprehensive waiver is intended to ensure that the Guarantor remains fully liable for the franchisee's obligations, regardless of any actions or inactions by Beehive Homes or the franchisee.