TERMINATION OF SALE MUTUAL RELEASES – Assorted Legal Forms

Termination of Sale mutual releases

When partnerships do not work out, rather than going to court – a mutual release agreement can be signed by both parties and when done, there will be no legal implications and no messy court proceedings. There are various names to this document – mutual release and termination agreement, partnership release agreement as well as the mutual release and settlement agreement.

This is used when there are disputes and these disputes can be resolved quickly and with professionalism. With the help of these agreements both parties can get out of the contract that has been signed. Any damages to each other or to one of the partners too can be paid due to this but once paid there are no rights to any future claims.

Once all the duties of the contract have been performed and the termination release agreement has been signed, the original agreement between the partners does not hold good. Therefore it is necessary for the parties to understand clearly what is mentioned in the termination of sale mutual agreements and the parties should not assume about certain conditions or terms but everything should be stated clearly in the document. The document should either be witnessed or notarized to prevent any questions which are raised later on the possibility of fraud or that the signature is not valid. For the document it is advisable to employ the services of an attorney.

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MUTUAL RELEASES

BE IT KNOWN, for good consideration, and in further  consideration of the mutual releases herein entered into, that:

______________________________________________________________ (First Party) and

______________________________________________________________ (Second Party)

do hereby completely, mutually and reciprocally  release,  discharge, acquit and forgive each other from all claims, contracts, actions, suits, demands, agreements, liabilities, and proceedings of every nature and description both at law and in equity that either party has or may have against the other, arising from the beginning of time to the date of these presence, including but not necessarily limited to an incident or claim described as:

This release shall be binding upon and inure to the benefit of the parties, their successors, assigns and personal representatives.

Signed this ____________ day of ________________, 20___.

In the presence of:

_______________________________________
First Party

_______________________________________
Second Party