What notices are waived by the Guarantor under the Crab N Spice Guaranty?
Crab_N_Spice Franchise · 2024 FDDAnswer from 2024 FDD Document
| This Rider amends the Agreement dated (the | ||
|---|---|---|
| "Agreement"), between Crab N Spice Group, a California corporation ("CNS Franchising") and | ||
| , a ("Franchisee"). | ||
| 1. | in the Agreement. | Definitions. |
| Capitalized terms used but not defined in this Rider have the meanings given | ||
| 2. | the following: | Amendments. |
| The | ||
| Agreement (and any Guaranty Agreement) is amended to comply with | ||
| (1) | Restrictive Covenants: Every contract by which Franchisee, any Guarantor, or any | |
| other person is restrained from exercising a lawful profession, trade, or business of | ||
| any kind is subject to NDCC Section 9-08-06. | ||
| (2) | Situs of Arbitration Proceedings: Franchisee and any Guarantor are not required to | |
| agree to the arbitration of disputes at a location that is remote from the site of | ||
| Franchisee's business. | ||
| (3) | Restrictions on Forum: Franchisee and any Guarantor are not required to consent | |
| to the jurisdiction of courts outside of North Dakota. | ||
| (4) | Liquidated Damages and Termination Penalties: Franchisee is not required to | |
| consent to liquidated damages or termination penalties. | ||
| (5) | Applicable Laws: The Agreement (and any Guaranty Agreement) is governed by | |
| the laws of the State of North Dakota. | ||
| (6) | Waiver of Trial by Jury: Franchisee and any Guarantor do not waive a trial by jury. | |
| (7) | Waiver of Exemplary and | |
| Punitive Damages: The parties do not waive exemplary | ||
| and punitive damages. | ||
| (8) | General Release: Franchisee and any Guarantor are not required to sign a general |
Source: Item 22 — CONTRACTS (FDD pages 50–51)
What This Means (2024 FDD)
Based on the 2024 Crab N Spice Franchise Disclosure Document, the North Dakota Rider to the Franchise Agreement specifies certain waivers that are NOT required of the franchisee or any guarantor. This means that in North Dakota, Crab N Spice cannot require the franchisee or guarantor to waive these specific rights or protections.
Specifically, the franchisee and any guarantor are not required to agree to arbitration of disputes at a location remote from the franchisee's business, nor are they required to consent to the jurisdiction of courts outside of North Dakota. Additionally, Crab N Spice cannot mandate consent to liquidated damages or termination penalties.
Furthermore, the franchisee and any guarantor do not waive a trial by jury, nor do they waive exemplary and punitive damages. Finally, Crab N Spice cannot require the franchisee and any guarantor to sign a general release.