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A release of liability, also known as a liability waiver or a hold harmless agreement, is a contract in which one party agrees not to hold another party liable for damages or injury.
A ?release? is a discharge of obligations. An ?indemnity? is an undertaking or a legally binding promise whereby one party agrees to accept the risk of loss or damage the other party may incur as a result of a transaction or event occurring.
A Liability Waiver is Generally Binding However, Connecticut courts have invalidated liability waivers in some cases. For example, an entity can't include a release provision that indemnifies it from its own negligence.
This form of a Release Agreement, Indemnity Agreement and Hold Harmless Agreement releases a party from certain specified liabilities. Releases are used to transfer risk from one party to another and protect against the released party or reimburse the released party for damage, injury, or loss.
A Waiver is where one person voluntarily gives up or abandons a legal right. For example, if a payment is late then the person to whom the debt is owed may waive a late penalty. An Indemnity Agreement is where one person agrees to protect another from liability.
Indemnity Agreement: Although similar to a hold harmless agreement, an indemnity agreement is an arrangement whereby one party agrees to pay the other party for any damages regardless of who is at fault.
In Connecticut, the statute of limitations for personal injury claims is two years. The two-year time clock begins to run on the day of the accident. So, for example, if your accident occurred on October 1, 2020, you will have until October 1, 2022, to file your claim.
I acknowledge and agree that this Release and Waiver of Liability is intended to be, and is, a complete release of any responsibility of the Released Parties for any and all personal injuries, temporary or permanent disability, death, and/or property damage sustained by me while on or using the Premises.