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Mutual Release And Rescission--Contract Claims
MUTUAL RELEASE AND RESCISSION--CONTRACT CLAIMS
This mutual release and rescission of contract, executed on [date executed], between [name of first party] of [address of first party], and [name of second party], of [address of second party], is intended to effect the extinguishment of obligations as herein designated.
RECITALS
Disputes and differences have arisen between [name of first party] and [name of second party] with respect to that certain agreement in writing entered into between the parties on [date of original agreement], 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 of first party] to [name of second party] of $ [Amount paid], receipt of which by [name of first party] 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the above-mentioned agreement entered into between the parties on [date of original agreement], shall be and is hereby rescinded, terminated and cancelled as of [date of termination].
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]