Who is considered the 'Licensor' in the Christies International Real Estate general release agreement?
Christies_International_Real_Estate Franchise · 2025 FDDAnswer from 2025 FDD Document
LICENSOR: Christie's International Real Estate, LLC
AGREEMENT
In consideration of the mutual covenants and promises below, and other good and valuable consideration, the parties hereby agree as follows:
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- Approval. Licensor hereby approves the opening of the Additional Office at the location set forth above. The Additional Office will commence operations under the CHRISTIE'S INTERNATIONAL REAL ESTATE system within 90 days of the Effective Date of this Agreement. The Additional Office will be subject to the terms and conditions in the Broker Affiliate License Agreement.
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- Release. Affiliate and all of Affiliate 's guarantors, members, employees, agents, successors, assigns and affiliates fully and finally release and forever discharge Licensor, its past and present agents, employees, officers, directors, members, licensees, franchisees, successors, assigns and affiliates (collectively "Released Parties") from any and all claims, actions, causes of action, contractual rights, demands, damages, costs, loss of services, expenses and compensation which Affiliate could assert against Released Parties or any of them up through and including the date of this Release. THIS IS A SPECIFIC RELEASE GIVING UP ALL RIGHTS WITH RESPECT TO THE TRANSACTIONS OR OCCURRENCES THAT ARE BEING RELEASED UNDER THIS AGREEMENT.
Source: Item 23 — RECEIPT (FDD pages 54–177)
What This Means (2025 FDD)
According to the 2025 Christies International Real Estate FDD, in the general release agreement, the 'Licensor' is identified as Christie's International Real Estate, LLC. This is relevant in the context of an agreement where an affiliate releases the Licensor from any claims. The release agreement specifies that the Affiliate discharges the Licensor, including its agents, employees, officers, directors, members, licensees, franchisees, successors, assigns, and affiliates, from any potential claims or liabilities up to the date of the release.
This agreement is applicable when an affiliate opens an additional office and is subject to the terms and conditions in the Broker Affiliate License Agreement. The affiliate agrees to release the licensor from any claims, actions, or causes of action. This includes contractual rights, demands, damages, costs, loss of services, expenses, and compensation that the affiliate could assert against the released parties.
For a prospective Christies International Real Estate franchisee, this means that upon entering such a release agreement, they are waiving their rights to pursue legal action against Christie's International Real Estate, LLC for any issues that may have occurred up to the date of the release. This is a standard legal protection for franchisors, but franchisees should carefully review the terms and understand the implications before signing, especially concerning additional offices or potential disputes.