Who is released and discharged from claims and demands under the Goldfish Swim School General Release?
Goldfish_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
| THIS GENERAL RELEASE is made and given on this day of, |
|---|
| 20 |
| by |
| , |
| ("RELEASOR") |
| an |
| individual/corporation/ |
| limited |
| liability |
| company/partnership |
| with |
| a |
| principal address of |
| , in consideration of: |
| the execution by Goldfish Swim School Franchising LLC, a Michigan |
| limited liability company ("RELEASEE"), of a successor Franchise Agreement or other renewal |
| documents renewing the franchise (the "Franchise") granted to RELEASOR by RELEASEE |
| pursuant to that certain Franchise Agreement (the "Franchise Agreement") between RELEASOR |
| and RELEASEE; or |
| RELEASEE'S consent to RELEASOR'S assignment of its rights and |
| duties under the Franchise Agreement; or |
| RELEASEE'S consent to RELEASOR'S assumption of rights and |
| duties under the Franchise Agreement; or |
| RELEASEE'S refund of twenty-five |
| percent (25%) of the Franchise Fee |
| RELEASOR paid to RELEASEE, |
Source: Item 23 — RECEIPTS (FDD pages 77–389)
What This Means (2025 FDD)
According to the 2025 Goldfish Swim School FDD, the "RELEASOR" is the party who provides the general release. The releasor can be an individual, corporation, limited liability company, or partnership with a principal address.
In exchange for providing this release, the releasor (typically the franchisee) receives consideration from Goldfish Swim School Franchising LLC ("RELEASEE"). This consideration can take the form of the execution of a successor Franchise Agreement, consent to the franchisee's assignment of rights and duties, consent to the franchisee's assumption of rights and duties, or a refund of twenty-five percent of the franchise fee.
This general release is a legal document where the franchisee agrees to waive certain claims against Goldfish Swim School in exchange for specific benefits or considerations. Franchisees should carefully review the terms of the release with a legal professional to fully understand the implications before signing.