What entities are included in the definition of 'Releasors' in the Bumper Man franchise agreement?
Bumper_Man Franchise · 2025 FDDAnswer from 2025 FDD Document
- **1.
Release by Franchisee and Guarantors.** Franchisee and Guarantors, on behalf of themselves and their successors, heirs, personal representatives, executors, administrators, personal representatives, agents, contractors, assigns, partners, shareholders, members, directors, officers, members, principals, employees, parents, subsidiaries, and affiliated entities, (collectively "Releasors") freely and without any influence forever release Franchisor, its parent, subsidiaries and affiliates and their respective past and present officers, directors, shareholders, agents and employees, in their corporate and individual capacities (collectively, the "Released Parties"), from any and all claims, demands, liabilities and causes of action of whatever kind or nature, whether known or unknown, vested or contingent, suspected or unsuspected (collectively "Claims"), that Releasors ever owned or held, now own or hold or may in the future own or hold, including, without limitation, claims arising under federal, state and local laws, rules and ordinances, claims for contribution, indemnity and/or subrogation, and claims arising out of, or relating to the Franchise Agreement and all other agreements between Franchisee and/or any Guarantor and any Released Parties, arising out of, or relating to any act, omission or event occurring on or before the date of this Release, unless prohibited by applicable law.
Source: Item 22 — CONTRACTS (FDD page 45)
What This Means (2025 FDD)
According to Bumper Man's 2025 Franchise Disclosure Document, the term "Releasors" in the franchise agreement encompasses a wide range of individuals and entities associated with the franchisee and any guarantors. This definition is crucial because it identifies all parties who are giving up their rights to make claims against Bumper Man.
Specifically, "Releasors" includes the franchisee and any guarantors, along with their successors, heirs, personal representatives, executors, administrators, agents, contractors, assigns, partners, shareholders, members, directors, officers, members, principals, employees, parents, subsidiaries, and affiliated entities. This comprehensive list ensures that not only the franchisee but also anyone closely related to them or their business is bound by the release, preventing future claims against Bumper Man.
This broad definition has significant implications for a prospective Bumper Man franchisee. It means that before signing the franchise agreement, the franchisee should fully understand the scope of the release and ensure that all related parties are aware of the rights they are giving up. It is advisable to seek legal counsel to fully grasp the potential impact of this release on all parties involved, as it could prevent future legal action against the franchisor.