What is the consideration provided by Christian Brothers Automotive for the Franchisee Candidate's agreement to the Nonuse, Nondisclosure and Non-Competition Agreement?
Christian_Brothers_Automotive Franchise · 2025 FDDAnswer from 2025 FDD Document
NOW, THEREFORE, for and in consideration of the premises and the mutual promises and covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:
Source: Item 22 — CONTRACTS (FDD page 76)
What This Means (2025 FDD)
According to the 2025 Christian Brothers Automotive FDD, the consideration provided by Christian Brothers Automotive for the Franchisee Candidate's agreement to the Nonuse, Nondisclosure, and Non-Competition Agreement is based on mutual promises, covenants, and other good and valuable consideration.
Specifically, the General Release agreement states that the agreement is made in consideration of the premises, mutual promises, and covenants contained within the agreement, along with other good and valuable consideration, the receipt and sufficiency of which are acknowledged. This means that both Christian Brothers Automotive and the franchisee candidate are giving something of value to each other as part of the agreement.
In practical terms, this means that the franchisee candidate's agreement to not use confidential information, disclose trade secrets, or compete with Christian Brothers Automotive is supported by the franchisor's promise to grant the franchise and provide the associated benefits. The "other good and valuable consideration" is a general legal phrase that could refer to various tangible and intangible benefits that both parties receive from entering into the agreement.