Who is considered the 'Releasor' in the Waiver and Release of Claims for a Crepe De Licious franchise?
Crepe_De_Licious Franchise · 2025 FDDAnswer from 2025 FDD Document
| This Waiver and Release of Claims ("Release") is made as of, 20 by | |
|---|---|
| , a(n) ("Franchisee"), and | |
| each individual holding an ownership interest in Franchisee (collectively with Franchisee, "Releasor") in favor | |
| of Crepe Delicious Holding USA, Inc., a Delaware corporation ("Franchisor," and together with Releasor, the | |
| "Parties"). |
Source: Item 22 — CONTRACTS (FDD page 57)
What This Means (2025 FDD)
According to Crepe De Licious's 2025 Franchise Disclosure Document, the 'Releasor' in the Waiver and Release of Claims is defined as the franchisee and each individual holding an ownership interest in the franchisee. This means that not only the franchisee entity itself, but also any individuals who have an ownership stake in that entity, are collectively considered the 'Releasor.'
This definition is important because it broadens the scope of who is bound by the terms of the release. If a franchisee is a corporation or LLC, for example, the release extends not only to the company but also to the individual owners. This ensures that all parties with a vested interest in the franchise are releasing their claims against Crepe De Licious.
For a prospective Crepe De Licious franchisee, this means that if you have partners or shareholders, they will also need to sign the Waiver and Release of Claims. It is crucial to understand this requirement and ensure that all owners are aware of the implications of signing the release, as it will impact their individual rights and potential claims against the franchisor. This is a fairly standard practice in franchising, as franchisors seek to protect themselves from potential future claims by all parties involved in the franchise ownership.