Does the failure to exercise a right under the Bumble Roofing note constitute a waiver of that right?
Bumble_Roofing Franchise · 2025 FDDAnswer from 2025 FDD Document
No failure by the holder to exercise and no delay in exercising any right, remedy, or power hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, or power hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, or power.
The rights, remedies, and powers herein provided are cumulative and not exclusive of any other rights, remedies, or powers provided by law.
Source: Item 23 — RECEIPT (FDD pages 53–188)
What This Means (2025 FDD)
According to Bumble Roofing's 2025 Franchise Disclosure Document, the failure to exercise a right, remedy, or power does not operate as a waiver of that right. The document states that no failure or delay in exercising any right, remedy, or power shall operate as a waiver. Furthermore, any single or partial exercise of any right, remedy, or power does not prevent any other or further exercise of that right, remedy, or power.
This means that Bumble Roofing retains all of its rights, remedies, and powers under the promissory note, even if it chooses not to exercise them immediately or fully. This protects Bumble Roofing's interests by ensuring that it does not inadvertently lose its ability to enforce the terms of the note.
For a prospective Bumble Roofing franchisee, this clause in the promissory note provides clarity and assurance that the franchisor's forbearance on any right does not set a precedent. The rights, remedies, and powers provided are cumulative and not exclusive of any other rights, remedies, or powers provided by law.