Is money damages considered a sufficient remedy for breach of the Cool Binz Release provision?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
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- Both parties acknowledges and agree that money damages will not be a sufficient remedy for any breach of this provision and that either party shall be entitled to specific performance as a remedy for any such breach. Such remedy shall not be deemed to be the exclusive remedy, but shall be in addition to all other remedies available at law or equity to the party. In the event of any litigation to enforce any of the terms of this Mutual Release, the unsuccessful party shall pay the costs and attorneys' fees of the successful party.
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to the 2025 Cool Binz Franchise Disclosure Document, money damages are not considered a sufficient remedy for a breach of the Cool Binz Release provision.
The document states that both parties acknowledge and agree that monetary compensation would not adequately address a breach of this provision. Instead, Cool Binz or the franchisee is entitled to specific performance as a remedy. This means that a court can order the breaching party to fulfill their obligations under the Release.
This remedy is not exclusive, meaning Cool Binz can pursue other legal or equitable remedies in addition to specific performance. In any litigation to enforce the terms of the Mutual Release, the unsuccessful party is responsible for covering the costs and attorney's fees of the successful party.