What is the purpose of the 'IN WITNESS WHEREOF' clause in the Buona Area Development Agreement?
Buona Franchise · 2025 FDDAnswer from 2025 FDD Document
IN WITNESS WHEREOF, the parties hereto have duly executed, sealed, and delivered this Agreement on the dates set forth below each signature.
FRANCHISOR: CHICAGO'S ORIGINAL ITALIAN BEEF FRANCHISING LLC DEVELOPER: [ENTITY NAME] An Illinois limited liability Franchisor A Dated: Dated: ADA 2025 FRANCHISOR INITIALS - 15 - DEVELOPER INITIALS
EXHIBIT A TO THE AREA DEVELOPMENT AGREEMENT
DESCRIPTION OF DEVELOPMENT AREA
[Insert description]
FRANCHISOR: CHICAGO'S ORIGINAL ITALIAN BEEF FRANCHISING, LLC An Illinois limited liability Franchisor DEVELOPER: [ENTITY NAME] A Dated: Dated: ADA 2025 - 16 - FRANCHISOR INITIALS________ ________DEVELOPER INITIALS
EXHIBIT B TO THE AREA DEVELOPMENT AGREEMENT
DEVELOPMENT SCHEDULE
Source: Item 22 — CONTRACTS (FDD page 78)
What This Means (2025 FDD)
According to Buona's 2025 Franchise Disclosure Document, the "IN WITNESS WHEREOF" clause in the Area Development Agreement signifies the formal execution of the agreement by both parties. It confirms that both Buona and the developer have officially signed and delivered the agreement, making it legally binding. The clause precedes the signature lines for both the franchisor, Chicago's Original Italian Beef Franchising LLC, and the developer, including spaces for the entity name and the dates of execution. This indicates that the agreement becomes effective on the dates specified near each signature.
For a prospective Buona area developer, this clause is a standard legal formality that marks the point at which they are legally bound by the terms and conditions outlined in the Area Development Agreement. It is crucial that a developer understands all aspects of the agreement before signing, as this clause confirms their intent to adhere to the obligations and responsibilities detailed within the document. The inclusion of spaces for dates near each signature ensures clarity regarding when each party's commitment becomes effective.
Furthermore, the document specifies that it can be signed with full legal force using electronic signatures and records, and that delivery by facsimile, e-mail, or other electronic means constitutes valid delivery. This flexibility allows for efficient execution of the agreement, but it also underscores the importance of carefully reviewing all terms before any form of signature is applied. The "IN WITNESS WHEREOF" clause, therefore, serves as a critical marker of legal commitment within the Buona franchising process.