Does the Ledgers Franchise Agreement require the franchisee to acknowledge receipt of the FDD?

Based on the 2025 Ledgers Franchise Disclosure Document, there is no explicit mention of a requirement for the franchisee to acknowledge receipt of the FDD within the excerpts provided. However, the document does state that "For mutual promises expressed in this Agreement, along with other valuable consideration, the receipt of which is acknowledged, Ledgers and Franchisee (collectively 'the Parties') will be bound as follows." This suggests that the receipt of consideration, which could include the FDD, is acknowledged as part of the agreement.

Several state-specific addenda address acknowledgments and waivers. For example, the Maryland addendum notes that "All representations requiring prospective franchisees to assent to a release, estoppel or waiver of liability are not intended to nor shall they act as a release, estoppel or waiver of any liability incurred under the Maryland Franchise Registration and Disclosure Law." Similarly, the Minnesota addendum states, "No statement, questionnaire, or acknowledgment signed or agreed to by a franchisee in connection with the commencement of the franchise relationship shall have the effect of (i) waiving any claims under any applicable state franchise law, including fraud in the inducement, or (ii) disclaiming reliance on any statement made by any franchisor, franchise seller, or other person acting on behalf of the franchisor." These clauses indicate that while acknowledgments may be present, they do not override franchisee rights under state laws.

Prospective Ledgers franchisees should carefully review the Franchise Agreement and any state-specific addenda to understand the full scope of acknowledgments, releases, and waivers. It would be prudent to consult with a franchise attorney to ensure full comprehension of these provisions and their implications under applicable state laws. Specifically, a potential franchisee should ask Ledgers about any documents they will be required to sign acknowledging receipt of the FDD or waiving rights, and how those acknowledgments or waivers will be interpreted in their specific state.