Who is considered the 'Releasor' in the My Salon Suite Waiver and Release of Claims?
My_Salon_Suite Franchise · 2025 FDDAnswer from 2025 FDD Document
| , This Waiver and Release of Claims (the "Release") is made as of | 20 | |
|---|---|---|
| by | , a(n) | |
| ("Franchisee"), | ||
| and | each | in |
| individual holding | ||
| an | ||
| ownership | ||
| interest | ||
| in | ||
| Franchisee | ||
| (collectively | ||
| with | ||
| Franchisee, | ||
| "Releasor") | ||
| favor | of | |
| Suite | ||
| Management | ||
| Franchising, | ||
| LLC, | ||
| a | ||
| Florida | ||
| limited | ||
| liability | ||
| company | ||
| ("Franchisor," | ||
| and | ||
| together | ||
| with Releasor, the "Parties"). |
Source: Item 6 — Other Intangibles and Goodwill (FDD pages 274–314)
What This Means (2025 FDD)
According to My Salon Suite's 2025 Franchise Disclosure Document, the 'Releasor' in the Waiver and Release of Claims is defined as the Franchisee and each individual holding an ownership interest in the Franchisee. This means that not only the business entity (Franchisee) is bound by the release, but also any individuals who have an ownership stake in that entity.
This definition is important because it broadens the scope of the release. My Salon Suite requires that anyone with an ownership interest in the franchise, such as partners or shareholders, must also agree to the terms of the release. This ensures that all parties with a vested interest in the franchise are bound by the agreement and cannot pursue claims against the franchisor.
In practical terms, if a My Salon Suite franchisee is a corporation or partnership, all shareholders or partners must sign the release to make it fully effective. This requirement protects the franchisor, Suite Management Franchising, LLC, from potential claims by individuals associated with the franchisee, ensuring a comprehensive and legally sound release of liability.