Does the Fly To Fit General Release contain the entire agreement of the parties?
Fly_To_Fit Franchise · 2024 FDDAnswer from 2024 FDD Document
[This is our current standard form of General Release. This document is not signed when you purchase a franchise. In circumstances such as a renewal of your franchise or as a condition of our approval of a sale of your franchise, we may require you to sign a general release.]
This General Release ("Release") is executed by the undersigned ("Releasor") in favor of Fly To Fit Franchise, LLC, a Delaware Limited Liability Company ("Fly To Fit Franchise").
Background Statement: [describe circumstances of Release]
Releasor agrees as follows:
- **1.
Release.** Releasor (on behalf of itself and its parents, subsidiaries and affiliates and their respective past and present officers, directors, shareholders, managers, members, partners, agents, and employees (collectively, the "Releasing Parties")) hereby releases Fly To Fit Franchise, its affiliates, and their respective directors, officers, shareholders, employees, and agents (collectively, the "Released Parties") from any and all claims, causes of action, suits, debts, agreements, promises, demands, liabilities, contractual rights and/or obligations, of whatever nature, known or unknown, which any Releasing Party now has or ever had against any Released Party based upon and/or arising out of events that occurred through the date hereof, including without limitation, anything arising out of the Franchise Agreement (collectively, "Claims").
- **2.
Covenant Not to Sue.** Releasor (on behalf of all Releasing Parties) covenants not to initiate, prosecute, encourage, assist, or (except as required by law) participate in any civil, criminal, or administrative proceeding or investigation in any court, agency, or other forum, either affirmatively or by way of cross-claim, defense, or counterclaim, against any Released Party with respect to any Claim.
Source: Item 23 — RECEIPTS (FDD pages 44–134)
What This Means (2024 FDD)
According to Fly To Fit's 2024 Franchise Disclosure Document, the General Release does not represent the entire agreement between the parties. The document is a standard form that Fly To Fit may require a franchisee to sign under specific circumstances, such as franchise renewal or the approval of a franchise sale. It is not signed when purchasing a franchise initially.
The General Release primarily functions as a waiver of claims. By signing it, the franchisee (Releasor) releases Fly To Fit Franchise from any past or present claims, debts, liabilities, or obligations arising from events up to the date of the release, including those related to the Franchise Agreement. The franchisee also agrees not to initiate any legal proceedings against Fly To Fit Franchise regarding these claims.
It is important to note that the General Release is not part of the initial franchise agreement but may become relevant later in the franchise relationship. Franchisees should carefully review the terms of any General Release presented to them and seek legal counsel to understand the full implications of waiving their rights and claims against Fly To Fit.