For Precision Door Service, does the Assignee release the Franchisor from claims?
Precision_Door_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
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- Release by Assignee. Except as noted in this Section 15, Assignee, Assignee Principals (if any), and their respective affiliates, successors, assigns, officers, directors, employees, agents, and on behalf of any other party claiming an interest through them (collectively and individually referred to as the "Assignee Parties" for purposes of this Section 15 and Section 16 below), release and forever discharge the Franchisor Parties of and from any and all Claims, whether known or unknown, vested or contingent, which Assignee may now or in the future own or hold, that in any way relates to the Franchised Business or the New Franchise Agreement (collectively referred to as "Assignee Claims" for purposes of this Section 15 and Section 16).
As to the New Franchise Agreement, the Assignee Parties and Franchisor Parties acknowledge and agree that the release by the Assignee Parties does not relate to the offer and sale of the New Franchise Agreement. Further, the parties agree that the release as it relates to the New Franchise Agreement is effective as to Assignee Claims arising through the Effective Date of this Agreement, and not to any claims arising after the Effective Date.
- Acknowledgement of Releasors. The release of Assignor Claims set forth in Section 14 and Assignee Claims in Section 15 are intended by the Assignor Parties and Assignee Parties (collectively, the "Releasors") to be full and unconditional general releases, as that phrase is used and commonly interpreted, extending to all claims of any nature, whether or not known, expected or anticipated to exist in favor of one of the Releasors against any other Releasor. In making this voluntary express waiver, the Releasors acknowledge that claims or facts in addition to or different from those which are now known to exist with respect to the matters mentioned herein may later be discovered and that it is the Releasors' intention to hereby fully and forever settle and release any and all matters, regardless of the possibility of later discovered claims or facts. The Releasors acknowledge that they have had adequate opportunity to gather all information necessary to enter into this Agreement and release, and need no further information or knowledge of any kind that would otherwise influence the decision to enter into this Agreement. The Releasors, for themselves and their heirs, successors and assigns, hereby expressly, voluntarily, and knowingly waive, relinquish and abandon each and every right, protection, and benefit to which they would be entitled, now or at any time hereafter under Section 1542 of the Civil Code of the State of California, as well as under any other statutes or common law principles of similar effect to said Section 1542, whether now or hereafter existing under the laws of California or any other applicable federal or state law with
Source: Item 23 — Receipts (FDD pages 92–433)
What This Means (2025 FDD)
According to Precision Door Service's 2025 Franchise Disclosure Document, the assignee, along with their principals, affiliates, successors, assigns, officers, directors, employees, and agents, releases the franchisor from all claims related to the franchised business or the New Franchise Agreement. This release covers all claims, whether known or unknown, vested or contingent.
However, this release by the Assignee Parties does not extend to the offer and sale of the New Franchise Agreement. The release is effective for Assignee Claims arising through the Effective Date of the agreement, but not for any claims arising after that date.
The document emphasizes that this release is intended to be a full and unconditional general release, extending to all claims, regardless of whether they are known, expected, or anticipated. The parties acknowledge that additional claims or facts may be discovered later, but it is their intention to settle and release all matters fully and forever. The releasors also acknowledge that they have had adequate opportunity to gather all necessary information and waive any rights or benefits under Section 1542 of the Civil Code of the State of California or similar laws.