Is the Healthsource Chiropractic agreement binding on the successors and assigns of Healthsource Chiropractic?
Healthsource_Chiropractic Franchise · 2025 FDDAnswer from 2025 FDD Document
14.3 Transfer by HealthSource Chiropractic. You represent that you have not signed this Agreement in reliance on any owner, officer, or employee remaining with us in that capacity. We may change our ownership or form at any time in our sole discretion. This Agreement is fully transferable by us, without restriction, and will inure to the benefit of any person or entity to whom it is transferred, or to any other legal successor to our interests in this Agreement. After our assignment of this Agreement to a third party who expressly assumes our obligations under this Agreement, we no longer will have any performance or other obligations or liabilities under this Agreement.
Source: Item 23 — Receipts (FDD pages 77–282)
What This Means (2025 FDD)
According to the 2025 Healthsource Chiropractic Franchise Disclosure Document, the franchise agreement is transferable by Healthsource Chiropractic without restriction. The agreement will benefit any person or entity to whom it is transferred or any other legal successor to Healthsource Chiropractic's interests in the agreement.
After Healthsource Chiropractic assigns the agreement to a third party who expressly assumes their obligations, Healthsource Chiropractic will no longer have any performance or other obligations or liabilities under the agreement. This means that if Healthsource Chiropractic sells the franchise system, the new owner will be bound by the existing franchise agreements, and franchisees will continue to operate under the same terms.
This clause provides clarity and security for both Healthsource Chiropractic and its franchisees in the event of a sale or transfer of the franchise system. It ensures business continuity and protects the interests of all parties involved. Franchisees can be assured that their investment and franchise rights will be honored even if the ownership of Healthsource Chiropractic changes.