If I default on my obligations to Creative World School, what legal rights do I waive?
Creative_World_School Franchise · 2025 FDDAnswer from 2025 FDD Document
| Topic | Provisions | Explanatory Notes |
|---|---|---|
| Loss of Legal Rights on Default | You waive presentment, demand, protest and notice of demand and dishonor, protest and non-payment and all other legal or equitable defenses you may have. | |
| Governing Law | Florida law governs the Promissory Note and Security Agreement | All actions must be brought in Lee County, Florida. |
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS, AND TRAINING (FDD pages 29–47)
What This Means (2025 FDD)
According to the 2025 Creative World School Franchise Disclosure Document, if you default, you waive certain legal rights. Specifically, you waive presentment, demand, protest, and notice of demand and dishonor, protest and non-payment. Additionally, you waive all other legal or equitable defenses you may have.
This waiver means that Creative World School is not required to formally present a demand for payment, protest the non-payment, or provide notice of these actions to you. By waiving these rights, you give up some of the standard legal protections typically afforded to debtors.
Furthermore, the Promissory Note and Security Agreement are governed by Florida law, and any legal actions related to these agreements must be brought in Lee County, Florida. This stipulation dictates the venue and legal framework for any disputes arising from these financial instruments.