Does the Bumper Man General Release cover claims against past and present shareholders of Bumper Man?
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.
- **2.
Risk of Changed Facts.** Franchisee and Guarantors understand that the facts in respect of which the Release in Section 1 above is given may turn out to be different from the facts now known or believed by them to be true.
Franchisee and Guarantors hereby accept and assume the risk of the facts turning out to be different and agree that the Release shall nevertheless be effective in all respects and not subject to termination or rescission by virtue of any such difference in facts.
- **3.
No Prior Assignment.** Franchisee and Guarantors represent and warrant that the Releasors are the sole owners of all Claims and rights released hereunder and that Releasors have not assigned or transferred, or purported to assign or transfer, to any person or entity, any Claim released under Section 1 above.
Source: Item 22 — CONTRACTS (FDD page 45)
What This Means (2025 FDD)
According to the 2025 Bumper Man FDD, the General Release executed by the franchisee and any guarantors includes a release of claims against Bumper Man, its parent, subsidiaries, and affiliates, as well as their respective past and present officers, directors, shareholders, agents, and employees in their corporate and individual capacities. This release extends to all claims, demands, liabilities, and causes of action, whether known or unknown, vested or contingent, suspected or unsuspected, that the franchisee (or "Releasors") ever owned, now owns, or may own in the future.
Specifically, the release covers claims arising under federal, state, and local laws, rules, and ordinances, as well as claims for contribution, indemnity, and/or subrogation. It also includes claims arising out of or relating to the Franchise Agreement and all other agreements between the franchisee and/or any guarantor and any released parties. The release applies to any act, omission, or event occurring on or before the date of the release, unless prohibited by applicable law.
The franchisee and guarantors also acknowledge the risk that facts may change and agree that the release will remain effective regardless of any differences in facts later discovered. They also represent that they are the sole owners of all claims and rights released and have not assigned or transferred any such claims to any other party. This comprehensive release is a condition of transfer or renewal of the Franchise Agreement, indicating its importance to Bumper Man.