Tennessee Code 47-25-1510 – Restriction on release from liability
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Terms Used In Tennessee Code 47-25-1510
- Franchisee: means a person to whom a franchise is offered or granted only if such person is required to be licensed under §. See Tennessee Code 47-25-1502
- Franchisor: means a person who grants a franchise to another person where such person is the holder of a permit issued pursuant to §. See Tennessee Code 47-25-1502
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: means a natural person, corporation, partnership, trust or other entity and, in case of an entity, it includes any other entity which has a majority interest in such entity, or effectively controls such other entity, as well as the individual officers, directors and other persons in active control of the activities of each such entity. See Tennessee Code 47-25-1502
- State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
- United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
No franchisee may prospectively assent to a release, assignment, novation, waiver or estoppel which would relieve any person from any liability or obligation under this part, or would require any controversy between a franchisor or franchisee to be referred to any person other than the duly constituted courts of this state or the United States, or a state regulatory agency charged by law with adjudicating such controversy, if the referral would be binding on the franchisee.