For Jersey Mikes, can the Guaranty be modified by an oral agreement?
Jersey_Mikes Franchise · 2025 FDDAnswer from 2025 FDD Document
This Agreement (including the Summary of Acknowledgments) constitutes the entire, full, and complete agreement between Franchisor and Developer concerning the subject matter of this Agreement, and supersedes all prior agreements. No amendment, change, or variance from this Agreement shall be binding on either party unless mutually agreed to by the parties and signed by themselves or their authorized officers or agents in writing. With the exception of the Disclosure Document described in Section 23.2, no other representation has induced Developer to execute this Agreement, and there are no representations, inducements, promises, or agreements oral or otherwise, between the parties not embodied in this Agreement, which are of any force or effect with reference to this Agreement or otherwise. Nothing in this Agreement or in a ny related agreement, however, is intended to disclaim the r epresentations Company made in the Disclosure Document that Company furnished to Developer.
Source: Item 22 — CONTRACTS (FDD page 77)
What This Means (2025 FDD)
According to the 2025 Jersey Mikes Franchise Disclosure Document, the franchise agreement, including any related documents such as the Guaranty, cannot be modified by an oral agreement. The FDD states that no amendment, change, or variance from the agreement shall be binding unless it is mutually agreed to by both parties and documented in writing, with signatures from authorized officers or agents. This clause emphasizes the importance of written documentation for any changes to the franchise agreement.
This requirement for written modifications is a standard practice in franchising to prevent misunderstandings and disputes. It ensures that all parties are clear about the terms of their agreement and that any changes are properly documented and agreed upon. For a prospective Jersey Mikes franchisee, this means that any promises or agreements made by Jersey Mikes representatives that are not written into the franchise agreement or a signed amendment are not legally binding.
Therefore, if a Jersey Mikes franchisee wants to change any aspect of their agreement, they must ensure that the changes are documented in writing and signed by both the franchisee and an authorized representative of Jersey Mikes. This protects both the franchisee and Jersey Mikes by providing a clear record of the agreed-upon terms and conditions. It is important for franchisees to be diligent in ensuring that all agreements are in writing to avoid potential disputes in the future.