MUTUAL RELEASE AND RESCISSION
CONTRACT CLAIMS
This mutual release and rescission of contract,
executed on _________________ (date), between
_______________________________________________________ (name) of
__________________________________________________________ (address), and
_________________________________________________________________ (name), of
____________________________________________________________ (address), is
intended to effect the extinguishment of obligations as herein designated.
RECITALS
Disputes and differences have arisen between
_________________________________ (name) and
________________________________________ (name) with respect to that certain
agreement in writing entered into between the parties on _______________
(date), which agreement is hereby made a part of this release and incorporated
by reference. A copy of the agreement is attached to this mutual release in
order that all such claims, demands, actions, responsibilities and liabilities
of the respective parties may be ascertained. The parties have agreed to
execute this mutual release in settlement of such disputes and differences.
SECTION
ONE
RELEASE
In consideration of the mutual relinquishment of
their respective legal rights with reference to the above-mentioned disputes
and differences, in consideration of the execution of this mutual release, and
in consideration of the payment by ______________________________ (name) to
_______________________________ (name) of $__________, receipt of which by
__________________________________ (name) is acknowledged, each party for
___________ (himself or herself or himself and herself or as the case may be)
and __________ (his or her or his and her or as the case may be) heirs and
legal representatives, expressly releases the other, and __________ (his or her
or his and her or as the case may be) heirs and legal representatives, from all
liability for claims and demands arising out of the agreement as described
above.
SECTION
TWO
RESCISSION
OF CONTRACT
The parties mutually agree that the above-mentioned
agreement entered into between the parties on ______________ (date), shall be
and is hereby rescinded, terminated and canceled as of __________ (date).
In witness whereof, the parties have executed this
mutual release and rescission of contract at ___________ (designate place of
execution) on the day and year first above written.
_____________________________________ ______________________
Signature Date
_____________________________________ ______________________
Signature Date
(Attach copy of agreement)