Who is the Healthsource Chiropractic agreement binding upon?
Healthsource_Chiropractic Franchise · 2025 FDDAnswer from 2025 FDD Document
1.1 Style of Agreement; Common Terms. This Agreement has been written in an informal style in order to make it more easily readable and to be sure that you become thoroughly familiar with all of the important rights and obligations the Agreement covers before you sign it. This Agreement includes several exhibits, all of which are legally binding and are an integral part of the complete Franchise Agreement. In this Agreement, we refer to as "we," "us," or the "HealthSource Chiropractic." We refer to you as "you," "Franchise Owner" or "Franchisee" and such terms include any person or entity that operates or has an interest in the Franchised Business (defined below). If you are a corporation, partnership or limited liability company, you will notice certain provisions that are applicable to those principal shareholders, partners or members on whose business skill, financial capability and personal character we are relying in entering into this Agreement. Those individuals will be referred to in this Agreement as "Principal Owners".
Source: Item 23 — Receipts (FDD pages 77–282)
What This Means (2025 FDD)
According to Healthsource Chiropractic's 2025 Franchise Disclosure Document, the franchise agreement is binding upon several parties. The agreement refers to "we," "us," or "the HealthSource Chiropractic" to denote the franchisor. The agreement also binds "you," "Franchise Owner" or "Franchisee," which includes any person or entity that operates or has an interest in the Franchised Business.
Furthermore, if the franchisee is a corporation, partnership, or limited liability company, the agreement also applies to the principal shareholders, partners, or members. These individuals are referred to as "Principal Owners" and are subject to specific provisions in the agreement due to their business skill, financial capability, and personal character being relied upon by Healthsource Chiropractic when entering into the agreement.
In essence, the Healthsource Chiropractic franchise agreement is designed to ensure that all parties involved in the operation of the franchise, including the franchisee, any entity they operate under, and the key individuals behind that entity, are legally bound by its terms and conditions. This comprehensive approach aims to protect the interests of Healthsource Chiropractic and maintain the integrity of the franchise system.