Where can I find the General Release agreement related to Camp Margaritaville?
Camp_Margaritaville Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 23: RECEIPTS]
You must sign a general release if you renew or transfer your franchise. California Corporations Code §31512 voids a waiver of your rights under the Franchise Investment Law (California Corporations Code §§310000 through 31516). Business and Professions Code §20010 voids a waiver of your rights under the Franchise Relations Act (Business and Professions Code §§20000 through 20043).
[The following additional language should be used with California franchisees]
Each of the parties granting the release above acknowledges a familiarity with Section 1542 of the Civil Code of the State of California, which provides as follows:
"A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release which, if known by him, must have materially affected the settlement with the debtor."
Source: Item 22 — CONTRACTS (FDD pages 71–72)
What This Means (2025 FDD)
According to the 2025 Camp Margaritaville FDD, Item 23 discusses the requirements for signing a general release in certain circumstances. Specifically, a franchisee must sign a general release if they renew or transfer their franchise. This release covers claims against Margaritaville Parties related to the Franchise Agreement or the franchisee's relationship with them.
The FDD also mentions that California Corporations Code §31512 voids any waiver of rights under the Franchise Investment Law and Business and Professions Code §20010 voids any waiver of rights under the Franchise Relations Act. This means that while a general release may be required, certain rights cannot be waived by the franchisee, particularly in California.
The document also includes a statement related to California franchisees acknowledging Section 1542 of the Civil Code of the State of California, which pertains to claims unknown at the time of executing the release. This highlights the importance of understanding the full scope of the release and any potential future claims.