What must be included when executing the general release for a Devon Creek franchise?
Devon_Creek Franchise · 2024 FDDAnswer from 2024 FDD Document
- 5.2.5 Franchisee shall execute a general release of all claims Franchisee may have against Devon Creek Franchise Group, LLC, its parent, subsidiaries and affiliates, its officers, directors, shareholders, agents, and employees, whether in their corporate and/or individual capacities, in the form attached hereto as Attachment 4. This release will include all claims arising under any federal, state, or local law, rule, or ordinance.
Source: Item 22 — CONTRACTS (FDD page 45)
What This Means (2024 FDD)
According to the 2024 Devon Creek Franchise Disclosure Document, when renewing a franchise agreement, a franchisee must execute a general release of all claims against Devon Creek Franchise Group, LLC, its parent, subsidiaries, affiliates, officers, directors, shareholders, agents, and employees in their corporate and individual capacities. This release must be in the form attached as Attachment 4 to the Franchise Agreement.
This release encompasses all claims arising under any federal, state, or local law, rule, or ordinance. This means the franchisee waives their right to sue Devon Creek for any reason, including statutory claims, when renewing their franchise agreement.
General releases are common in franchise renewals to provide the franchisor with legal protection against past issues. However, franchisees should carefully review the release with legal counsel to understand the full scope of what they are giving up. Attachment 4 to the Franchise Agreement will contain the specific language of the release.