What agreements does the Devon Creek Franchise Agreement supersede?
Devon_Creek Franchise · 2024 FDDAnswer from 2024 FDD Document
sed herein; and it is understood that Franchisor does not warrant that such products will not be sold within the Franchisee's (or Developer's) Territory by others who may have purchased such products from Franchisor.
Initial
EXECUTING THE FRANCHISE AGREEMENT (OR MULTI-UNIT DEVELOPMENT AGREEMENT), FRANCHISEE (OR DEVELOPER) AND ANY PRINCIPAL, INDIVIDUALLY AND ON BEHALF OF FRANCHISEE'S (OR DEVELOPER'S) AND SUCH PRINCIPAL'S HEIRS, LEGAL REPRESENTATIVES, SUCCESSORS AND ASSIGNS. HEREBY FOREVER RELEASE AND DISCHARGE DEVON CREEK FRANCHISE GROUP, LLC, LICENSOR, AND ANY OF THE ABOVE'S PARENT COMPANY, SUBSIDIARIES, DIVISIONS, AFFILIATES, SUCCESSORS, ASSIGNS AND DESIGNEES, AND THE FOREGOING ENTITIES' DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, SHAREHOLDERS, SUCCESSORS, DESIGNEES AND REPRESENTATIVES FROM ANY AND ALL CLAIMS, DEMANDS AND JUDGMENTS RELATING TO OR ARISING UNDER THE STATEMENTS. CONDUCT, CLAIMS OR ANY OTHER AGREEMENT BETWEEN THE PARTIES EXECUTED PRIOR TO THE DATE OF THE FRANCHISE AGREEMENT (OR MULTI-UNIT DEVELOPMENT AGREEMENT), INCLUDING, BUT NOT LIMITED TO, ANY AND ALL CLAIMS, WHETHER PRESENTLY KNOWN OR UNKNOWN, SUSPECTED OR UNSUSPECTED, ARISING UNDER THE FRANCHISE, SECURITIES, TAX OR ANTITRUST LAWS OF TH
Source: Item 22 — CONTRACTS (FDD page 45)
What This Means (2024 FDD)
According to the 2024 Devon Creek Franchise Disclosure Document, the Franchise Agreement supersedes any prior agreements between the franchisee (or developer) and Devon Creek Franchise Group, LLC. Specifically, it releases Devon Creek from any claims, demands, and judgments relating to any agreement executed before the date of the Franchise Agreement or Multi-Unit Development Agreement. This includes claims, whether known or unknown, arising under franchise, securities, tax, or antitrust laws, but does not apply to claims arising from representations made by Devon Creek in its Franchise Disclosure Document.
This means that any previous understandings, promises, or contracts made before signing the current Franchise Agreement are essentially nullified, with the exception of claims related to misrepresentations in the FDD itself. This is a standard clause in franchise agreements to ensure that the current agreement is the sole governing document.
For a prospective Devon Creek franchisee, this underscores the importance of carefully reviewing the Franchise Disclosure Document and ensuring that all representations made by the franchisor are accurately reflected in the FDD. Any verbal promises or assurances not included in the FDD may be difficult to enforce due to this clause. It also highlights the need for thorough due diligence before signing the Franchise Agreement, as any issues or concerns arising from prior dealings with Devon Creek will likely be waived upon execution of the agreement.