Does the Maryland addendum to the Crown Gold Exchange disclosure document amend Item 17?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
In the State of Maryland only, this Disclosure Document is amended as follows:
The following is added to Item 17:
The general release required as a condition of renewal, sale, and/or assignment/transfer shall not apply to any liability under the Maryland Franchise Registration and Disclosure Law.
Any claims arising under the Maryland Franchise Registration and Disclosure Law must be brought within 3 years after the grant of the franchise.
You have the right to file a lawsuit alleging a cause of action arising under the Maryland Franchise Law in any court of competent jurisdiction in the State of Maryland.
Source: Item 23 — RECEIPTS (FDD pages 39–114)
What This Means (2024 FDD)
According to Crown Gold Exchange's 2024 Franchise Disclosure Document, the Maryland addendum does amend Item 17. Specifically, the addendum includes additional information regarding general releases, the statute of limitations for claims, and the right to file lawsuits under Maryland franchise law.
In Maryland, the general release required for renewal, sale, or transfer of the franchise does not apply to liabilities under the Maryland Franchise Registration and Disclosure Law. This means a franchisee cannot waive their rights to sue under this law as a condition of these transactions. Any claims arising under the Maryland Franchise Registration and Disclosure Law must be brought within 3 years after the franchise is granted. This sets a time limit for franchisees to take legal action regarding issues covered by this law.
Furthermore, the addendum clarifies that franchisees have the right to file a lawsuit in any competent court within Maryland for causes of action arising under the Maryland Franchise Law. This ensures that franchisees can pursue legal remedies within their state, providing a local venue for resolving disputes related to franchise law.