A release of liability is a form agreement whereby one party waives his legal right to bring a civil law suit against another for any damages he may sustain as a result of the wrongful conduct of the other party.
Binding Contract
Since a release is a legal contract, to be binding it must satisfy the requirements for contract validity.
A release of liability is a form agreement whereby one party waives his legal right to bring a civil law suit against another for any damages he may sustain as a result of the wrongful conduct of the other party.
Requirements for Validity
A release will be valid as long as something of value is received in exchange for agreeing not to enforce a legal right against another party.
A release of liability is a form agreement whereby one party waives his legal right to bring a civil law suit against another for any damages he may sustain as a result of the wrongful conduct of the other party.
Fraudulent Inducement
A release that is obtained due to fraud or misrepresentation by the party seeking the release is invalid and will not be enforced.
A release of liability is a form agreement whereby one party waives his legal right to bring a civil law suit against another for any damages he may sustain as a result of the wrongful conduct of the other party.
Settlement of Civil Suits
When a civil lawsuit is settled, it is common practice for the defendant, in consideration for making a cash payment to the plaintiff, to condition the settlement upon the plaintiff executing a release.
A release of liability is a form agreement whereby one party waives his legal right to bring a civil law suit against another for any damages he may sustain as a result of the wrongful conduct of the other party.
Release Precludes Further Litigation
The release precludes the plaintiff from ever filing suit against the defendant for the same cause of action in the future.