What representation does the Burros Fries franchisee make regarding its organization and good standing?
Burros_Fries Franchise · 2024 FDDAnswer from 2024 FDD Document
30. AUTHORITY
Franchisee or, if Franchisee is a corporation, limited liability company or partnership, the individuals executing this Agreement on behalf of such corporation, limited liability company or partnership, warrant to us, both individually and in their capacities as Owners, partners, members, shareholders, directors and officers, that all of them as the case may be, have read and approved this Agreement, including the restrictions which this Agreement places upon their right to transfer their respective interests in such entity as set forth in Section 22.
31. FURTHER REPRESENTATIONS AND WARRANTIES BY THE FRANCHISEE
Franchisee acknowledges and warrants that it has received a complete and final copy of this Agreement, our Disclosure Document and applicable exhibits, in a timely fashion as required; and that before signing this Agreement, Franchisee was given ample opportunity to review and examine our Disclosure Document and was furnished with copies of the documents. NO ORAL, WRITTEN OR VISUAL CLAIM OR STATEMENT THAT CONTRADICTS THE DISCLOSURE DOCUMENT WAS MADE.
FRANCHISEE ACKNOWLEDGES THAT FRANCHISEE AND ALL OF ITS OWNERS, HAVE BEEN ADVISED TO HAVE THIS AGREEMENT AND ALL OTHER DOCUMENTS REVIEWED BY AN ATTORNEY AND THAT FRANCHISEE AND ITS OWNERS HAVE READ, UNDERSTOOD, HAD AN OPPORTUNITY TO DISCUSS AND AGREED TO EACH PROVISION OF THIS AGREEMENT. THE FRANCHISEE AND ITS OWNERS AGREE THAT THERE HAS BEEN NO PRESSURE OR COMPULSION BY FRANCHISOR OR ITS AGENTS TO SIGN THIS AGREEMENT.
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2024 FDD)
According to the 2024 Burros Fries Franchise Disclosure Document, if the franchisee is a corporation, limited liability company, or partnership, the individuals executing the agreement on behalf of the entity warrant to Burros Fries that they have read and approved the agreement. This includes the restrictions placed on their right to transfer their interests in the entity, as detailed in Section 22 of the agreement. This warranty is made both individually and in their capacities as owners, partners, members, shareholders, directors, and officers.
Furthermore, the franchisee acknowledges and warrants that they have received a complete and final copy of the Franchise Agreement, the Disclosure Document, and applicable exhibits in a timely manner. They also confirm that they were given ample opportunity to review and examine the Disclosure Document before signing the agreement. The franchisee asserts that no oral, written, or visual claim or statement that contradicts the Disclosure Document was made.
Burros Fries also requires acknowledgement that the franchisee and all of its owners have been advised to have the agreement and all other documents reviewed by an attorney. The franchisee and its owners must confirm that they have read, understood, had an opportunity to discuss, and agreed to each provision of the agreement. They also agree that there has been no pressure or compulsion by Burros Fries or its agents to sign the agreement. This comprehensive set of representations and warranties ensures that the franchisee is fully informed and has entered into the agreement willingly and with a clear understanding of its terms and conditions.