What parties are involved in the release agreement with Best Brains?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
| THIS RELEASE is made and given by, ("Releasor") with reference to the following facts: |
|---|
| 1. |
| Releasor and Best Brains, Inc. |
| (Releasee) are parties to one or more franchise agreements. |
| 2. |
| The following consideration is given: |
| the execution by Releasor of a successor Franchise Agreement or other renewal |
| documents renewing the franchise (the "Franchise"); or |
| Releasor's consent to Releasee's transfer of its rights and duties under the |
| Franchise Agreement; or |
| Releasor's consent to Releasee's assumption of rights and duties under the |
| Franchise Agreement; or |
| [insert description] |
Source: Item 22 — CONTRACTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, the release agreement involves two primary parties: the Releasor and the Releasee. The Releasor is the party granting the release, and the Releasee is the party being released from certain liabilities.
Specifically, the Releasor is identified as the franchisee. The Releasee is Best Brains, Inc., including its agents, employees, officers, directors, members, franchisees, successors, assigns, and affiliates, collectively referred to as "Released Parties." This means the franchisee is agreeing to release Best Brains and all related entities from potential claims.
The document outlines that the release is made with reference to the fact that the Releasor and Best Brains are parties to one or more franchise agreements. The consideration for the release can vary, including the execution of a successor Franchise Agreement, the Releasor's consent to the Releasee's transfer of rights and duties under the Franchise Agreement, or the Releasor's consent to the Releasee's assumption of rights and duties under the Franchise Agreement.