Who are considered the 'Releasing Parties' that are releasing claims against Jersey Mikes?
Jersey_Mikes Franchise · 2025 FDDAnswer from 2025 FDD Document
- Consistent with the previous introduction, You, on your own behalf and on behalf of your current and for mer parents, affiliates, and subsidiaries, and each such foregoing person's or entity's respective agents, spouses, heirs, principals, attorneys, owners, officers, directors, employees, representatives, predecessors, successors, and assigns (collectively, the "Releasing Parties"), hereby fully and forever unconditionally release and discharge Us and our current and former parents, subsidiaries, and affiliates, and our and each such foregoing entity's respective current and former owners, officers, directors, employees, managers, agents, representatives, predecessors, successors, and assigns (collectively, the "Franchisor Parties") of and from any and all claims, damages, demands, causes of action, suits, duties, liabilities, and agreements of every kind and nature whatsoever (collectively, "Claims"), whether at law or in equity, and known or unknown, which any of the Releasing Parties had, has, or may have had, in any way arising out of or relating to any relationship or transaction with any of the Franchisor Parties, however characterized or described, from the beginning of time to the Effective Date, including, without limitation, any and all Claims in any way arising out of or relating to the Franchise Agreement, Area Development Agreement, the relationship created by the Franchise Agreement and/or the Development Agreement, or the development, ownership, or operation of any and all of the Restaurant(s).
You, on your own behalf and on behalf of the other Releasing Parties, further covenant not to sue any of the Franchisor Parties on any of the Claims released by this paragraph and represent that You have not assigned any of the Claims released by this paragraph to any individual or entity who is not bound by this paragraph.
Source: Item 22 — CONTRACTS (FDD page 77)
What This Means (2025 FDD)
According to Jersey Mikes's 2025 Franchise Disclosure Document, the "Releasing Parties" include the franchisee. It also includes the franchisee's current and former parents, affiliates, and subsidiaries. The definition extends to each of these individuals' or entities' respective agents, spouses, heirs, principals, attorneys, owners, officers, directors, employees, representatives, predecessors, successors, and assigns.
This comprehensive definition means that a wide range of individuals and entities connected to the franchisee are releasing any potential claims against Jersey Mikes. This release covers any and all claims, damages, demands, causes of action, suits, duties, liabilities, and agreements of every kind and nature, whether at law or in equity, and known or unknown. The release extends from the beginning of time to the effective date of the agreement.
This clause is significant for prospective Jersey Mikes franchisees because it requires them, and a broad group of related parties, to waive their rights to sue Jersey Mikes under a wide array of potential claims. Franchisees should carefully consider this provision and consult with an attorney to fully understand the implications before signing the agreement. The franchisee also agrees to not sue Jersey Mikes based on any of the released claims.