Are the guarantors of a Marble Slab Creamery franchise's obligations jointly and severally liable?
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)
Based on the 2025 Marble Slab Creamery Franchise Disclosure Document, the term 'Guarantors' is mentioned within the context of a general release executed as a condition of franchise transfer or the execution of a successor Franchise Agreement. However, the document does not explicitly state whether the guarantors of a Marble Slab Creamery franchise's obligations are jointly and severally liable.
Without a clear statement in the provided FDD excerpts, prospective Marble Slab Creamery franchisees should seek clarification from the franchisor regarding the extent and nature of the guarantors' liabilities. Understanding whether the liability is joint, several, or joint and several is crucial for assessing the risk associated with the guarantee.
It is important to consult with a legal professional to fully understand the implications of acting as a guarantor for a Marble Slab Creamery franchise, including the potential scope of financial responsibility and the circumstances under which the guarantee may be invoked.