How must a waiver of rights by Crepe De Licious be documented to be effective?
Crepe_De_Licious Franchise · 2025 FDDAnswer from 2025 FDD Document
WHEREAS, Franchisor and Franchisee have entered into a Franchise Agreement ("Agreement") pursuant to which Franchisee was granted the right to own and operate a Crepe de licious business;
WHEREAS, [Franchisee has notified Franchisor of its desire to transfer the Agreement and all rights related thereto, or an ownership interest in Franchisee, to a transferee/enter into a successor franchise agreement/amend the Agreement] or [the Agreement is being terminated/or indicate other reason for the requirement of this waiver and release], and Franchisor has consented to such [transfer/successor franchise agreement/amendment/termination/other reason]; and
WHEREAS, as a condition to Franchisor's consent to [transfer the Agreement/enter into a successor franchise agreement/amend the Agreement/terminate the Agreement/other reason], Releasor has agreed to execute this Release upon the terms and conditions stated below.
NOW, THEREFORE, in consideration of Franchisor's consent, and for other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, and intending to be legally bound, Releasor hereby agrees as follows:
Source: Item 22 — CONTRACTS (FDD page 57)
What This Means (2025 FDD)
According to the 2025 Crepe De Licious Franchise Disclosure Document, a waiver of rights is documented within the context of a transfer, successor franchise agreement, amendment, or termination of the Franchise Agreement. The franchisor, Crepe De Licious, must consent to the specific action prompting the waiver. The releasor, in exchange for Crepe De Licious's consent, agrees to execute a release based on the terms and conditions outlined in the agreement.
This agreement requires that the releasor intends to be legally bound by the terms of the release. The consideration provided by Crepe De Licious's consent, along with other valuable considerations, must be acknowledged as sufficient and received. This ensures that the waiver is supported by mutual agreement and understanding between the parties involved.
For a prospective Crepe De Licious franchisee, this means that any waiver of rights must be carefully documented and agreed upon by all parties involved. The franchisee should ensure that the waiver clearly states the reasons for the waiver, the specific rights being waived, and the consideration being provided in exchange for the waiver. Consulting with a legal professional is advisable to ensure that the waiver is enforceable and protects the franchisee's interests.