Who are considered 'Releasing Parties' in the Chocolate Fish Coffee General Release?
Chocolate_Fish_Coffee Franchise · 2024 FDDAnswer from 2024 FDD Document
This General Release ("Release") is executed by the undersigned ("Releasor") in favor of Chocolate Fish Franchising, LLC, a Wyoming Limited Liability Company ("Chocolate Fish Franchising").
Background Statement: [describe circumstances of Release]
Releasor agrees as follows:
- **1.
Source: Item 23 — RECEIPTS (FDD pages 41–119)
What This Means (2024 FDD)
According to Chocolate Fish Coffee's 2024 Franchise Disclosure Document, the 'Releasor' is the party executing the General Release in favor of Chocolate Fish Franchising, LLC. The document specifies that this General Release is executed by the 'undersigned' referred to as the 'Releasor'.
This release is not signed when purchasing a franchise but may be required in circumstances such as a franchise renewal or as a condition for approving the sale of a franchise. The Releasor agrees to the terms outlined in the General Release, thereby releasing Chocolate Fish Coffee from certain liabilities or claims.
Prospective franchisees should understand that they might be required to sign this release in the future under specific circumstances. It is important to carefully review the terms of the release and understand its implications before signing, especially concerning any potential liabilities or claims against Chocolate Fish Coffee.