In the Gokhale Method Franchise Agreement, what is the document referred to as?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
| This FRANCHISE AGREEMENT ("Agreement") | is made effective | , 20, (the "Effective Date") |
|---|---|---|
| by and between Gokhale Method Institute, Inc., a corpo | oration formed under | California law, with its principal |
| business address at 3790 El Camino Real #1033, Pal- | o Alto, CA 94306 (r | eferred to in this Agreement as |
| "Franchisor," "we", "us" or "our"), and | , a | with its principa |
| business address at | (referred to in this A | greement as "Franchisee", "you,' |
| "your" or "owner"). | - |
Source: Item 22 — CONTRACTS (FDD page 34)
What This Means (2024 FDD)
According to the 2024 Gokhale Method Franchise Disclosure Document, the franchise agreement is referred to as the "Agreement". This is shown in Item 22, Contracts, where it defines the relationship between Gokhale Method Institute, Inc. as the Franchisor and the franchisee.
This definition is important because it establishes a shorthand way to refer to the franchise agreement throughout the document. Franchisees should pay attention to how key terms are defined, as these definitions will govern the interpretation of their rights and obligations.
For example, the personal guarantee section references the Franchise Agreement as "the Agreement", and states that the guarantor is guaranteeing the franchisee's obligations under "the Agreement". Understanding this definition is crucial for interpreting the legal commitments within the franchise agreement and related documents.