What specific actions does a Deck Medic borrower waive regarding payment of the loan?
Deck_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
to earn an adequate living while complying with the terms of this Agreement. You hereby waive any right to challenge the terms of this Agreement as being overly broad, unreasonable or otherwise unenforceable.
- 6. Breach. You agree that failure to comply with the terms of this Agreement will cause irreparable harm to us and to our franchisor Deck Medic, Inc., and other Deck Medic franchisees for which there is no adequate remedy at law. Therefore, you agree that any violation of these covenants will entitle us or our Franchisor Deck Medic, Inc. to injunctive relief. You agree that we and/or our Franchisor Deck Medic, Inc.
may apply for such injunctive relief, without bond, but upon due notice, in addition to such further and other relief as may be available at equity or law
Source: Item 23 — RECEIPTS (FDD pages 43–228)
What This Means (2024 FDD)
According to Deck Medic's 2024 Franchise Disclosure Document, a franchisee in default of their agreement may be subject to certain waivers. Specifically, if Deck Medic seeks injunctive relief against a franchisee for breaching the agreement, the franchisee waives their rights to claim damages if the injunction is later dissolved, provided due notice was given.
This means that if Deck Medic obtains a court order to stop a franchisee from violating the franchise agreement, and that order is later overturned, the franchisee cannot sue Deck Medic for any losses they incurred as a result of the initial injunction. However, this waiver is contingent upon the franchisee receiving proper notice before the injunction is issued.
Additionally, the FDD states that if a court requires a bond for the injunctive relief despite the waiver, the franchisee agrees that the bond amount will not exceed $1,000. This limits the franchisee's potential recovery even further. It is important to note that these waivers do not limit Deck Medic's other remedies, such as seeking specific performance or monetary damages for the franchisee's breach.