Who specifically is included in the release of claims by the Affiliate Group for Christies International Real Estate?
Christies_International_Real_Estate Franchise · 2025 FDDAnswer from 2025 FDD Document
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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.
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- FOR CALIFORNIA RESIDENTS ONLY: You represent and warrant that YOU EXPRESSLY WAIVE ANY AND ALL RIGHTS AND BENEFITS UNDER CALIFORNIA CIVIL CODE §1542, which provides as follows:
A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.
The above release shall not apply to any liabilities arising under the California Franchise Investment Law, the California Franchise Relations Act, Indiana Code § 23-2-2.5.1 through 23-2-2.7-7, the Maryland Franchise Registration and Disclosure Law, Michigan Franchise Investment Law, Minnesota Franchise Act, North Dakota franchise laws, the Rhode Island Investment Act, and the Washington Franchise Investment Protection Act.
Source: Item 23 — RECEIPT (FDD pages 54–177)
What This Means (2025 FDD)
According to Christies International Real Estate's 2025 Franchise Disclosure Document, the release of claims by the Affiliate extends to several parties. The Affiliate, along with all of the Affiliate's guarantors, members, employees, agents, successors, assigns, and affiliates, releases the Licensor and its associated parties from any potential claims.
The "Released Parties" encompass Christies International Real Estate, its past and present agents, employees, officers, directors, members, licensees, franchisees, successors, assigns, and affiliates. This release covers all claims, actions, causes of action, contractual rights, demands, damages, costs, loss of services, expenses, and compensation that the Affiliate could assert against the Released Parties up to the date of the release.
This comprehensive release is a significant legal agreement, effectively preventing the Affiliate from pursuing any legal action against Christies International Real Estate and its related entities for matters occurring before the release date. However, the document specifies exceptions, particularly for liabilities arising under franchise investment and relations laws in certain states like California, Indiana, Maryland, Michigan, Minnesota, North Dakota, Rhode Island, and Washington. Prospective franchisees should carefully review these exceptions and understand the full scope of the release before signing.