Liability Releases are used when one party agrees to release another party from all liability that stems from an incident. This release will not be valid unless compensation is paid to the releasing party.
_________________________________, herein referred to as (“Releaser”), located at: ______________________________ and ____________________, herein referred to as (“Releasee”), located at: ______________________________________________ hereby execute this Liability Release.
WHEREAS, certain disputes and financial transactions have occurred between the parties hereto.
WHEREAS, they have amicably resolved their disputes and acknowledge the extinguishment of the debts, obligations, and liabilities between the parties.
IN CONSIDERATION THEREOF, the parties herein hereby duly execute this Liability Release and comply with the terms and conditions set forth below.
IT IS AGREED:
1. Releaser hereby acknowledges Releasee’s payment in full in the amount of $________.
2. Releaser acknowledges and agrees that Releaser’s full payment is satisfactory and there are no other remaining debts and/or liability owed to Releaser regarding the above mentioned transaction.
3. Releaser hereby releases and discharges Releasee from any liability, claims, demands, damages, costs, expenses, actions and causes of action (collectively the "Claims") in respect to Releasee’s payment in full.
The parties herein hereby acknowledge, understanding and agree to the foregoing terms and conditions and executed this Liability Release.