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In a legal context, the term mutual generally refers to an agreement or a condition that is reciprocal or agreed upon by all parties . It implies that all parties involved have consented to the same terms , obligations , or conditions, and that the agreement is binding on all parties involved.
What is an example of a release clause?
In exchange for the consideration under this Agreement to which you would not otherwise be entitled, you hereby generally and completely release the Company and its directors, officers, employees, shareholders, partners, agents, attorneys, predecessors, successors, parent or subsidiary entities, insurers, affiliates
What is an example of a mutual release clause?
As Though the Company and the Selling Shareholder presently have no claims against the other as of the date of this Agreement, the Company and the Selling Shareholder shall hereby release and forever discharge each other from all claims arising prior to the date of this Agreement related to the Redemption Shares and
What is a mutual release and discharge?
A mutual release agreement is a legally binding contract where two or more parties agree to release each other from any current or future claims, liabilities, legal actions, or contractual obligation related to a specific dispute or contract. Either party can propose this agreement during negotiations.
What is an example of discharge by mutual agreement?
Example: A and B enter into a contract where A agrees to supply 500 chairs to B within one month. Midway, both parties agree to terminate the contract because B no longer needs the chairs. This mutual decision to end the contract is an example of discharge by agreement or consent.
The Parties hereby release each other from all actions, causes of action, liabilities, or claims. The parties hereby agree not to sue each other for any matter related to any matter that arose prior to the date this agreement is signed and agree not to seek damages from each other.
What is an example of a mutual release of claims clause?
Example: Both parties, [Party A] and [Party B], hereby mutually release, waive, and discharge each other from all claims, demands, and causes of action of any kind, known or unknown, which may have arisen or may arise in relation to [specific matter].
What is a mutual release?
A Mutual Release is a legal agreement between two or more parties where each party agrees to release the other from any claims, liabilities, or obligations arising from a particular contract, dispute, or situation.
Related links
settlement agreement and mutual release
This Settlement Agreement and Mutual Release (the Agreement) is made as of. December 5, 2007 (the Effective Date), by and between RELIABLE HEALTH CARE.
31 CFR 902.7 - Mutual releases of the debtor and the
In all appropriate instances, a compromise that is accepted by an agency should be implemented by means of a mutual release, in which the debtor is released
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