factual

Under the Pearce Bespoke personal guaranty, what defenses are waived by the undersigned?

Pearce_Bespoke Franchise · 2025 FDD

Answer from 2025 FDD Document

The undersigned waives:

    1. acceptance and notice of acceptance by Franchisor of the foregoing undertakings;
    1. notice of demand for payment of any indebtedness or nonperformance of any obligations hereby guarantied;
    1. protest and notice of default to any party with respect to the indebtedness of nonperformance of any obligations hereby guarantied;
    1. any right the undersigned may have to require that an action be brought against Franchisee or any other person as a condition of liability;
    1. any and all other notices and legal or equitable defenses to which the undersigned may be entitled;

The undersigned consents and agrees that:

    1. the undersigned's direct and immediate liability under this Guaranty shall be joint and several with all signatories to this and similar guaranties of Franchisee's obligations;
    1. the undersigned shall render any payment or performance required under the Agreement upon demand if Franchisee fails or refuses punctually to do so;
    1. this Guaranty shall apply to any claims Franchisor may have due to return of any payments or property Franchisor may have received from Franchisee as a preference, fraudulent transfer or conveyance or the like in any legal proceeding;
    1. such liability shall not be contingent or conditioned upon pursuit by Franchisor of any remedies against Franchisee or any other person; and
    1. 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 Pearce Bespoke's 2025 Franchise Disclosure Document, the personal guaranty requires the undersigned to waive several rights and defenses. These waivers are significant because they limit the guarantor's ability to contest liability.

Specifically, the guarantor waives the right to:

  • Acceptance and notice of acceptance by Pearce Bespoke of the guaranty.
  • Notice of demand for payment of any debt or nonperformance of any obligations guaranteed.
  • Protest and notice of default to any party concerning the guaranteed debt or nonperformance.
  • Require that an action be brought against the franchisee or any other person as a condition of liability.
  • Any and all other notices and legal or equitable defenses to which the undersigned may be entitled.

Additionally, the guarantor consents to joint and several liability with all other signatories, immediate liability upon demand if the franchisee fails to perform, the guaranty applying to claims related to preferences or fraudulent transfers, liability not being contingent upon Pearce Bespoke pursuing remedies against the franchisee, and liability not being affected by any extensions of time or credit granted to the franchisee. This waiver is continuing and irrevocable during and after the franchise term until all obligations are fully discharged.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.