Does the Fitstop disclosure document include a general release as an exhibit?
Fitstop Franchise · 2024 FDDAnswer from 2024 FDD Document
-------------------------------|----------------| | 2260 S. Centinela Ave., Suite 150, Los Angeles, CA 90064 | (310) 563-8747 | | | |
I received a disclosure document with an issuance date of May 27, 2024. State registration effective dates are listed on the State Effective Dates page contained in this disclosure document. The disclosure document included the following Exhibits:
| Exhibit B. Table of Contents for Manual(s) | | | | |-----------------------------------------------------------------------------------------|----------------------------------------------------------|------------------------------------------------------------------|--| | Exhibit C. | Financial Statements | | | | Exhibit D. | List of Franchisees | | | | Exhibit E. | Lists of Agents for Service of Process in Various States | | | | Exhibit F. | State Administrators | | | | Exhibit G. | General Release | | | | Exhibit H. | State Addendum to the Disclosure Document | | | | Exhibit I. | State Effective Dates Page | | | | Exhibit J. | Receipts of Franchise Disclosure Document | | | | Dated: | | Dated: | | | Printed Name | | Printed Name | | | Signed, individually and as an officer of [ ] (a corporation) [ ] (a partnership) | | Signed, individually and as an officer of [ ] (a corporation) [ ] (a partnership) | | | [ ] (a Limited Liability Company) | | [ ] (a Limited Liability Company) | | | | | | | Exhibit A.
Source: Item 23 — RECEIPTS (FDD pages 50–135)
What This Means (2024 FDD)
Yes, according to the 2024 Fitstop Franchise Disclosure Document, a general release is included as an exhibit. Specifically, Exhibit G is titled "General Release," and a sample form of the general release is provided as well.
Exhibit G, titled "General Release," suggests that Fitstop requires franchisees to sign a release under certain circumstances. These circumstances include when entering the Franchise Agreement, upon entering into a successor Franchise Agreement, and in connection with any transfer under the Franchise Agreement.
However, the FDD also notes that these provisions regarding the general release may not be enforceable under New York law. This is an important consideration for prospective franchisees, particularly those in New York, as the enforceability of the release could impact their rights and obligations under the Franchise Agreement. Franchisees should consult with a legal professional to understand the implications of signing a general release in their specific jurisdiction.
It is typical for franchise agreements to include general releases to protect the franchisor from potential liabilities. However, the specific terms and enforceability of these releases can vary, so it is crucial for franchisees to carefully review the release and understand their rights before signing.