Who are considered the 'Releasors' in the context of the Marble Slab Creamery franchise agreement release?
Marble_Slab_Creamery Franchise · 2025 FDDAnswer from 2025 FDD Document
| THIS GENERAL RELEASE ("Release") is executed onby | |
|---|---|
| ("Franchisee"), ("Guarantors"), | |
| and ("Transferee") as a condition of (1) the transfer of the | |
| Marble Slab Creamery Franchise Agreement | dated between Marble Slab |
| Franchising, LLC ("MSF") and Franchisee ("Franchise Agreement"); or (2) the execution of a | |
| successor Franchise Agreement by Franchisee and MSF. (If this Release is executed under the | |
| conditions set forth in (2) above, all references in this Release to "Transferee" should be ignored.) |
Source: Item 23 — RECEIPT (FDD pages 101–346)
What This Means (2025 FDD)
According to the 2025 Marble Slab Creamery FDD, the 'Releasors' in the context of a general release executed as a condition of transferring a franchise agreement or executing a successor franchise agreement are the Franchisee, any Guarantors, and any Transferee involved in the transfer. If the release is executed for a successor agreement, references to the 'Transferee' are disregarded.
This means that when a Marble Slab Creamery franchisee sells their franchise to someone else (the Transferee), or when a franchisee renews their agreement with Marble Slab Creamery, all parties involved (the franchisee, any guarantors who backed the franchisee's obligations, and the new buyer if applicable) may be required to sign a release. This release likely waives certain claims against Marble Slab Creamery.
It's important for prospective franchisees to understand who these parties are and what rights they might be giving up when signing a release. Franchisees should carefully review the terms of any release with a legal professional to fully understand its implications before signing. This is especially important in states like California and North Dakota, where certain waivers of rights may not be enforceable.