What specific notices does the undersigned waive regarding the Hardees guarantee undertakings?
Hardees Franchise · 2025 FDDAnswer from 2025 FDD Document
- A. Each of the undersigned waives: (1) acceptance and notice of acceptance by HR of the foregoing undertakings; (2) notice of demand for payment of any indebtedness or nonperformance of any obligations hereby guaranteed; (3) protest and notice of default to any party with respect to the
indebtedness or nonperformance of any obligations hereby guaranteed; (4) any right he may have to require that an action be brought against Developer or any other person as a condition of liability; (5) all rights to payments and claims for reimbursement or subrogation which any of the undersigned may have against Developer arising as a result of the execution of and performance under this Guarantee by the undersigned; (6) any law or statute which requires that HR make demand upon, assert claims against or collect from Developer or any others, foreclose any security interest, sell collateral, exhaust any remedies or take any other action against Developer or any others prior to making any demand upon, collecting from or taking any action against the undersigned with respect to this Guarantee; (7) any and all other notices and legal or equitable defenses to which he may be entitled; and (8) any and all right to have any legal action under this Guarantee decided by a jury.
Source: Item 23 — Receipts (FDD pages 85–541)
What This Means (2025 FDD)
According to Hardees's 2025 Franchise Disclosure Document, the guarantor waives several notices related to the guarantee undertakings. This means that individuals who sign the guarantee agreement give up certain rights to be informed about specific actions or events related to the debt or obligations being guaranteed.
Specifically, the guarantor waives acceptance and notice of acceptance by Hardees of the undertakings, meaning they won't be notified when Hardees accepts the guarantee. They also waive notice of demand for payment of any debt or nonperformance, so Hardees doesn't have to formally demand payment or notify them of non-compliance. Additionally, the guarantor waives protest and notice of default to any party, meaning they won't receive notice if there's a default on the guaranteed obligations.
Furthermore, the guarantor waives any right to require Hardees to first take action against the developer or any other person before pursuing the guarantor. They also relinquish all rights to payments and claims for reimbursement or subrogation against the developer. The guarantor waives any legal requirement for Hardees to make demands, assert claims, or collect from the developer before taking action against the guarantor. Finally, they waive any other notices, legal or equitable defenses, and the right to a jury trial in any legal action related to the guarantee.