MUTUAL RECISSION OF CONTRACT AND RELEASE 1
MUTUAL RECESSION OF CONTRACT AND RELEASE
This Agreement made on this [day] day of [month] of [year] Between Party 1 and Party 2 (hereinafter the “Agreement”)
BETWEEN:
[Party 1 name/address] (hereinafter "Party 1"),
AND:
[Party 2 name/address] (hereinafter "Party 2"),
ARTICLE 1
MUTUAL RECESSION OF CONTRACT
On [day] day of [month] of [year], the parties entered into a contract entitled [Title of Applicable Contract], which is attached as Exhibit A. Party 1 and Party 2, as the original or appropriately assigned parties to that contract, wish to rescind that contract. Party 1 hereby agrees to pay Party 2 the amount of [include amount or type of consideration] for consideration of contract recession. In consideration of the mutual covenants of the parties, the parties hereby rescind the aforementioned contract effective as of [day] day of [month] of [