Can Pearce Bespoke exercise its rights and remedies under the Development Agreement at any time?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
All rights and remedies of the parties hereto shall be cumulative and not alternative, in addition to and not exclusive of any other rights or remedies which are provided for herein or which may be available at law or in equity in case of any breach, failure or default or threatened breach, failure or default of any term, provision or condition of this Agreement. The rights and remedies of the parties hereto shall be continuing and shall not be exhausted by any one or more uses thereof and may be exercised at any time or from time to time as often as may be expedient; and any option or election to enforce any such right or remedy may be exercised or taken at any time and from time to time. Notwithstanding anything to the contrary herein, a termination of this Agreement resulting from your failure to open and thereafter operate Businesses in accordance with the Development Schedule will not, in itself, constitute cause for us to terminate any previously executed Franchise Agreement in effect at the time of such termination.
Source: Item 23 — RECEIPTS (FDD pages 39–172)
What This Means (2025 FDD)
According to Pearce Bespoke's 2025 Franchise Disclosure Document, the company has the ability to exercise its rights and remedies at any time under the Development Agreement. Specifically, Pearce Bespoke's rights and remedies are continuing and are not exhausted by one or more uses. These rights may be exercised at any time or from time to time as often as may be expedient. Any option or election to enforce any such right or remedy may be exercised or taken at any time and from time to time.
Events of default include failing to have the minimum number of businesses open and operating by the specified deadlines in the Development Schedule, an Event of Default occurring under any Franchise Agreement resulting in its termination, or breaching any other provision of the Development Agreement. If any of these events occur, Pearce Bespoke has the option to terminate the agreement, terminate any exclusive or territorial rights the franchisee may have, and/or exercise any other remedy available in law or equity.
Upon termination of the Development Agreement, Pearce Bespoke will retain the Development Fee, and the franchisee will not be relieved of any obligations, debts, or liabilities. However, the termination of the Development Agreement due to failure to open businesses according to the Development Schedule does not automatically cause termination of any previously executed Franchise Agreements.