Under the Gokhale Method Franchise Agreement, what does the term 'Franchisor' refer to?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
E AGREEMENT
| 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 term 'Franchisor' refers to Gokhale Method Institute, Inc., a corporation formed under California law with its principal business address at 3790 El Camino Real #1033, Palo Alto, CA 94306. The Franchise Agreement is made between Gokhale Method Institute, Inc. and the franchisee. The terms 'we,' 'us,' and 'our' also refer to the franchisor within the agreement.
This definition is important for prospective franchisees as it clearly identifies the legal entity they are entering into an agreement with. Understanding who the franchisor is allows franchisees to know who is responsible for upholding the obligations and providing the support outlined in the Franchise Agreement. This also clarifies who the franchisee should contact for guidance, support, and conflict resolution.
Furthermore, the document specifies that as an inducement to Gokhale Method Institute, Inc. ('GMI' or 'Franchisor') to execute the Franchise Agreement, the guarantors unconditionally guarantee all of the franchisee's obligations under the agreement will be punctually paid and performed. This highlights the importance of understanding the franchisor's role in ensuring financial obligations are met and the potential liabilities associated with the franchise agreement.