Is the consideration mentioned in the Learningrx release agreement the only consideration paid or to be paid?
Learningrx Franchise · 2025 FDDAnswer from 2025 FDD Document
The consideration expressly mentioned herein is the only consideration paid or to be paid by said parties hereby released.
No representations as to damages or liability have been made.
The parties acknowledge that no other party, or agent, or attorney of any other party, has made any promise, or representation or warranty to induce this Release, not herein expressly set forth, and no such promises, representations or warranties are relied upon as a consideration for this Release, or otherwise, but any and all of the Releasor's claims, of whatever nature are hereby fully and forever released, compromised and settled.
Source: Item 22 — CONTRACTS (FDD page 54)
What This Means (2025 FDD)
According to Learningrx's 2025 Franchise Disclosure Document, the consideration expressly mentioned in the release agreement is the only consideration paid or to be paid by the parties being released. The document explicitly states that no other representations regarding damages or liability have been made, and no other promises, representations, or warranties have been relied upon as consideration for the release. This ensures that all parties are clear that there are no hidden or additional payments or considerations beyond what is stated in the agreement.
This provision aims to provide a clear and final resolution of any potential claims between the franchisee and Learningrx. By stating that the mentioned consideration is the only consideration, it prevents future disputes over additional payments or obligations. The agreement also emphasizes that it is a compromise of all claims, whether past, present, or future, and that executing the release does not imply any admission of liability on the part of any party.
For a prospective Learningrx franchisee, this means that when signing a release agreement, they should be fully aware of all the terms and considerations involved. It is crucial to understand that no additional payments or promises are valid unless expressly stated in the agreement. This clause protects both the franchisee and Learningrx from future claims or misunderstandings regarding the settlement. Franchisees should carefully review the release agreement with legal counsel to ensure they fully understand their rights and obligations.
It is also important to note that the general release shall not apply to any liability under the Maryland Franchise Registration and Disclosure Law, or with respect to claims arising under the Washington Franchise Investment Protection Act. This means that even with the general release, franchisees in Maryland and Washington retain certain rights and protections under their respective state laws.