Mutual Release


More Info
									This is an agreement whereby two parties mutually agree to release each other from a
current agreement or dispute. For this agreement to be valid, both parties must
voluntarily consent to the release. This agreement will result in the mutual
relinquishment of the respective legal rights and obligations under a certain agreement
or dispute. This document should be used by individuals or entities that agree to
mutually release each other from all liabilities, obligations and claims arising out of a
previously executed agreement.
                                      GENERAL MUTUAL RELEASE

This General Mutual Release (herein referred to as the “Release”) is made and entered into this
___ day of ________, 20___ (herein referred to as the “Effective Date”), by and between
____________________ (herein referred to as the “Party One”) whose offices are located at
_________________________ and _________________________ (herein referred to as the
“Party Two”) whose offices are located at ________________________, hereinafter collectively
referred to as the “Parties”.

WHEREAS disputes and differences have arisen between the Parties with respect to [Describe
the agreement, facts or issues that are in dispute, for example, the agreement entered into on
September 1, 2010];

WHEREAS the Parties seek to resolve and release one another as follows:

1. The disputes and differences that the Parties mutually desire to settle are as follows:

2. The consideration for this mutual release is as follows:

         A. Mutual relinquishment of our respective legal rights with reference to the disputes
         and differences described above: and
         B. Other valuable consideration.

3. In exchange for this consideration, the Parties expressly releases the other, and his/her heirs,
insurers and legal representatives from all claims known or unknown to us that have arisen or
may arise from the transactions or events described in Clause 1.

4. In executing this release the Parties intend to bind their respective spouses, heirs, legal
representatives, assigns, and anyone else claiming under us, in addition to themselves. Neither
party has assigned a claim arising from the transaction described in Clause 1 to another party.

5. Therefore, the Parties hereby release one another from all liabilities, covenants, obligations,
claims and promises arising out of the Agreement, together with any rights and causes of action
that each party may have had against the other.

This Agreement may be executed in any number of counterparts and all of such counterparts
taken together shall be deemed to constitute one and the same instrument. The parties further
acknowledge and agree that receipt by either party of any notice or communication in pursuance
of this Agreement, including acceptance and/or amendment hereof, may be given and received
by facsimile transmission. This transmission will be accepted as legal and binding by the parties
to the contract.

[Instruction: In some jurisdictions, such as California, a statement to the effect of “A general
release does not extend to claims which the creditor does not know or suspect to exist in his

© Copyright 2013 Docstoc Inc. registered document proprietary, copy not                 2
favor at the time of executing the release which if known by him must have materially affected
his settlement with the debtor” may be required language in a mutual release. California Civil
Code Section 1524.]

[Party One]


[Party Two]


© Copyright 2013 Docstoc Inc. registered document proprietary, copy not            3

To top