Who is included in the definition of 'Released Parties' in the release agreement with Crave Cookies?
Crave_Cookies Franchise · 2025 FDDAnswer from 2025 FDD Document
Releasor (on behalf of itself and its parents, subsidiaries and affiliates and their respective past and present officers, directors, shareholders, managers, members, partners, agents, and employees (collectively, the "Releasing Parties")) hereby releases Crave Cookies Franchising, its affiliates, and their respective directors, officers, shareholders, employees, and agents (collectively, the "Released Parties") from any and all claims, causes of action, suits, debts, agreements, promises, demands, liabilities, contractual rights and/or obligations, of whatever nature, known or unknown, which any Releasing Party now has or ever had against any Released Party based upon and/or arising out of events that occurred through the date hereof, including without limitation, anything arising out of the Franchise Agreement (collectively, "Claims").
Source: Item 23 — RECEIPTS (FDD pages 47–194)
What This Means (2025 FDD)
According to Crave Cookies' 2025 Franchise Disclosure Document, the "Released Parties" in the general release agreement include Crave Cookies Franchising, LLC, its affiliates, and their respective directors, officers, shareholders, employees, and agents. This definition is important because the Releasor, which is the franchisee, is releasing these specific parties from any and all claims they may have against them.
This means that if a franchisee signs the release, they are giving up their right to sue Crave Cookies Franchising, its affiliates, and all the individuals and entities associated with them, for any issues arising from the franchise agreement or events that occurred up to the date of the release. This could include past disputes, disagreements, or any other claims the franchisee might have. The release covers a broad range of potential claims, whether known or unknown, which is a significant consideration for a franchisee.
It is important to note that Crave Cookies may require a franchisee to sign this general release in certain circumstances, such as a renewal of the franchise or as a condition of approving a sale of the franchise. Before signing such a release, a franchisee should carefully consider its implications and consult with an attorney to understand the full extent of the rights they are waiving. The FDD also notes some state-specific limitations to the release, such as in Maryland and Washington, where the release may not apply to certain franchise law claims.