What is the agreement referred to as in the Healthsource Chiropractic document?
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 the 2025 Healthsource Chiropractic Franchise Disclosure Document, the agreement is referred to as "This Agreement". The document states that it has been written in an informal style to ensure the franchisee is familiar with their rights and obligations before signing. It also mentions that the agreement includes exhibits that are legally binding and an integral part of the complete Franchise Agreement.
Healthsource Chiropractic refers to themselves as "we," "us," or the "HealthSource Chiropractic," and the franchisee as "you," "Franchise Owner" or "Franchisee." If the franchisee is a corporation, partnership, or limited liability company, certain provisions apply to the principal shareholders, partners, or members, who are referred to as "Principal Owners."
Furthermore, the document emphasizes the importance of time, stating that "Time is of the essence of this Agreement," meaning any failure to meet deadlines constitutes a material breach. The agreement also includes provisions that are deemed severable, ensuring that if one part is unenforceable, the rest of the agreement remains in effect. Additionally, a Business Associate Agreement is included to ensure compliance with HIPAA regulations.