Must a waiver of satisfaction of a condition under the Chocolate Fish Coffee franchise agreement be in writing?
Chocolate_Fish_Coffee Franchise · 2024 FDDAnswer from 2024 FDD Document
- 18.5 Consent; Waiver. No consent under this Agreement, and no waiver of satisfaction of a condition or nonperformance of an obligation under this Agreement will be effective unless it is in writing and signed by the party granting the consent or waiver.
No waiver by a party of any right will affect the party's rights as to any subsequent exercise of that right or any other right.
No delay, forbearance or omission by a party to exercise any right will constitute a waiver of such right.
Source: Item 23 — RECEIPTS (FDD pages 41–119)
What This Means (2024 FDD)
According to the 2024 Chocolate Fish Coffee Franchise Disclosure Document, any waiver of satisfaction of a condition under the franchise agreement must be in writing. Specifically, the document states that no waiver of satisfaction of a condition will be effective unless it is in writing and signed by the party granting the waiver.
This requirement ensures that both Chocolate Fish Coffee and the franchisee have a clear record of any conditions that have been waived, preventing potential misunderstandings or disputes later on. It also protects both parties by requiring a signed agreement for such waivers, adding a layer of formality and intent.
This type of clause is fairly standard in franchise agreements, as it provides legal clarity and protects the interests of both the franchisor and the franchisee. It is important for a prospective Chocolate Fish Coffee franchisee to understand that any deviations from the standard agreement terms must be documented in writing to be enforceable.