This form is a release and settlement agreement where the claimant accepts a specified amount of money and forever releases and discharges the releasee from any and all claims. The form also provides that each party will pay their own respective legal fees.
General Release And Settlement Agreement Template For All Claims
Category:
State:
Alabama
Control #:
AL-010-03-CP
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Alabama General Release And Settlement Agreement?
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FAQ
Those requirements include:An offer. This is what one party proposes to do, pay, etc.Acceptance.Valid consideration.Mutual assent.A legal purpose.A settlement agreement must also not be "unconscionable." This means that it cannot be illegal, fraudulent, or criminal.
The release agreement is actually a contract which eliminates all claims of the injured party as to the parties released. The release of all claims is in exchange for the payment of the agreed settlement amount.
The agreement states that a claim is settled between the two parties and that the settlement also absolves (or releases) a party of any and all claims, causes of action, charges, complaints, demands, actions, and liabilities.
Also known as a general release or release. A written contract in which one or more parties agree to give up legal causes of action against the other party in exchange for adequate consideration (that is, something of value to which the party releasing the legal claims is not already entitled).
So all settlement documents must be interpreted in the same manner as any other contract would be interpreted. And a settlement agreement does not need to be in writing to be enforceable. An oral settlement agreement entered into by the parties can be enforceable so long as it does not violate the statute of frauds.