Is a Release included as a schedule in the Ledgers Franchise Disclosure Document?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
TABLE OF CONTENTS
- Scope 2 2. 3. Duties of Franchisor 4. anchisee 5. Property 6. ity 7. Transfer .15 8. Termination .17 9. Dispute Res olution .20 10. General .22 Schedu les Ç, Schedule 1 Schedule 2 Territory Automatic Bank Draft Authorization Ç, Schedule 3 Schedule 4 Schedule 5 Schedule 6 Telephone Number Assignment Lease Rider Release State Addenda to the Franchise Agreement
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to Ledgers' 2025 Franchise Disclosure Document, a Release is included as Schedule 6. The table of contents of the franchise agreement lists several schedules, including Schedule 1 for Territory, Schedule 2 for Automatic Bank Draft Authorization, Schedule 3, Schedule 4, Schedule 5, Schedule 6 for Telephone Number Assignment, Lease Rider, and Release, respectively, and State Addenda to the Franchise Agreement.
It is important to note that the franchise agreement also contains a section addressing the release of prior claims. By signing the agreement, the franchisee agrees to release Ledgers from any claims arising before the agreement's date. However, this release does not apply to claims arising from representations made in the Franchise Disclosure Document.
Additionally, the document states that in California, franchisees must sign a general release when renewing or transferring their franchise. However, California law voids any waiver of rights under the Franchise Investment Law or the Franchise Relations Act. Therefore, prospective franchisees should consult with legal counsel to understand the implications of these release provisions, especially in California.