Is there a deadline associated with signing the Learningrx release agreement?
Learningrx Franchise · 2025 FDDAnswer from 2025 FDD Document
ddendum
Exhibit C Area Development Agreement:
Schedule A Development Schedule and Territory
Schedule B Guaranty
Exhibit G General Release
Our preferred method of executing documents is through electronic signature.
EXHIBIT G
GENERAL RELEASE
This GENERAL RELEASE is made and executed by the undersigned as of the date below (the "Effective Date").
WHEREAS, LEARNINGRX FRANCHISE CORPORATION, a Colorado corporation, ("Franchisor") and _______________________ (the "undersigned Franchisee") entered into a franchise agreement dated ________________, and this General Release is made and executed by the undersigned Franchisee in connection with the undersigned's entry into a renewal franchise agreement for a renewal term pursuant to Section 3 of the franchise agreement.
NOW, THEREFORE, in consideration of the covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the undersigned Franchisee agrees and covenants as follows:
-
- The undersigned Franchisee and its shareholders, officers, and directors (collectively "Releasor") does hereby release and forever discharge Franchisor, its successors, agents, assigns, officers, directors, shareholders, employees, representatives, and any and all other persons, firms and corporations whatsoever (collectively "Releasees"), from any and all claims, demands, damages, actions, causes of action, or suits of any kind or nature whatsoever, both known and unknown, breach of contract, defamation, and any claims whatsoever which the Releasor ever had, now has or hereinafter can, will or may have, for on or by reason of any matter, cause or thing whatsoever, through the Effective Date. This Full, Final and Absolute Release (the "Release") shall apply to all agreements or contracts heretofore existing or entered into by and between the undersigned Franchisee and Franchisor prior to or as of the Effective Date.
-
- It is understood and agreed that the settlement evidenced by this Release is a compromise of all claims herein specified, whether past, present or future, that such claims are doubtful and disputed, and that execution of this Release is not to be construed as an admission of liability on the part of any party. Rather, liability is expressly denied.
-
- 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, Exhibit G pertains to the General Release agreement. The General Release is executed by the franchisee as of a specific date, referred to as the "Effective Date." The document indicates that the release is connected to the franchisee entering a renewal franchise agreement for a renewal term, as per Section 3 of the franchise agreement.
The General Release involves the franchisee releasing Learningrx from any claims through the Effective Date. This release applies to all agreements existing between the franchisee and Learningrx before or as of this Effective Date. The document emphasizes that the settlement is a compromise of all claims, whether past, present, or future, and that executing the release does not indicate an admission of liability by either party.
The agreement also states that no other promises or representations have been made to induce the release, except as expressly set forth in the document. The franchisee acknowledges having read and understood the terms of the release. The document includes a space for the date of signing, reinforcing that the release is tied to a specific date agreed upon by both parties. While the FDD specifies that the General Release is made and executed as of the Effective Date, it does not explicitly state a deadline for signing the release agreement.