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The speaker discusses the concept of "releases," which are legal documents signed to free one party from liability, effectively waiving any legal claims against them. This is particularly relevant for business owners, such as landlords dealing with tenants. If a dispute arises, such as over rent or security deposits, and is settled without court involvement, it's crucial to obtain a release from the other party. Without this document, they could later raise claims, even years later, depending on the statute of limitations. The speaker advises always securing a release when settling matters out of court to prevent potential future disputes.
