Is the Pearce Bespoke personal guaranty continuing and irrevocable during the terms of the Franchise Documents?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
nchisor may have received from Franchisee as a preference, fraudulent transfer or conveyance or the like in any legal proceeding.
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- such liability shall not be contingent or conditioned upon pursuit by Franchisor of any remedies against Franchisee or any other person; and
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- such liability shall not be diminished, relieved or otherwise affected by any extension of time, credit or other indulgence which Franchisor may from time to time grant to Franchisee or any other person, including without limitation, the acceptance of any partial payment or performance, or the compromise or release of any claims, none of which in any way modify or amend this Guaranty, which shall be continuing and irrevocable during and after the terms of the Franchise Documents, as the same may be amended or renewed, until Franchisee's duties and obligations to Franchisor are fully discharged and satisfied.
Source: Item 23 — RECEIPTS (FDD pages 39–172)
What This Means (2025 FDD)
According to the 2025 Pearce Bespoke Franchise Disclosure Document, the guaranty signed by the franchisee is designed to be continuing and irrevocable. Specifically, the guaranty remains in effect both during and after the term of the Franchise Documents. This continuation applies even if the Franchise Documents are amended or renewed.
This irrevocability remains until the franchisee's duties and obligations to Pearce Bespoke are fully discharged and satisfied. The guarantor's liability is not contingent upon Pearce Bespoke pursuing remedies against the franchisee or any other person. Furthermore, the guarantor's liability will not be affected by any extensions of time, credit, or other allowances that Pearce Bespoke may grant to the franchisee.
This includes the acceptance of partial payments, compromise, or release of claims. These actions do not modify or amend the guaranty. The guarantor also waives certain rights, including the right to require Pearce Bespoke to bring an action against the franchisee first and any legal or equitable defenses they may have.