Create a contract using the template attached. Make sure that you include the waiver of a real liability.

LAW001 Business Law 1

Week 3 Assignment  

General Release

Create a contract using the template attached. Make sure that you include the waiver of a real liability.

GENERAL RELEASE

 1. ___________________, Releasor, voluntarily and knowingly execute this release with the express intention of eliminating Releasee’s liabilities and obligations as described below.

2. Releasor hereby releases _______________________, Releasee, from all claims, known or unknown that have arisen or may arise from the following occurrence:

 (state type of liability being released here) __________________________________________________

_____________________________________________________________________________________

3. In exchange for granting this release Releasor has received the following consideration:

$ __________________________

4. In executing this release Releasor additionally intends to bind his or her spouse, heirs, legal representatives, assigns, and anyone else claiming under him or her. Releasor has not assigned any claim covered by this release to any other party. Releasor also intends that this release apply to heirs, personal representatives, assigns, insurers and successors of Releasee as well as to the Releasee.

5. This release was executed on (date) ___________________

at (location) _____________________________________

Releasor’s Signature ____________________ Releasee’s Signature _____________________

Address ______________________________ Address ______________________________

Releasor’s Spouse’s Signature _________________________________

Civil Code Section 1542

A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor. Witkin summary 9th edition contracts section 658, 894, 895, 897.