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A release is a waiver or relinquishment of a known right. A release of liability will relinquish or destroy the injured party's cause of action. A covenant not to sue, on the other hand, is not a waiver of a known right; nothing is relinquished or destroyed.
Code § 8.01-35.1. Va. Code § 8.01-35.1 provides in part:?When a release or a covenant not to sue is given in good faith to one of two or more persons liable for the same injury to a person or property, or the same wrongful death:1.
For the purposes of this section, a covenant not to sue shall include any "high-low" agreement whereby a party seeking damages for injury to a person or property, or for wrongful death, agrees to accept as full satisfaction for any judgment no more than one sum certain and the party or parties from whom the damages are ...
In any suit brought for personal injury or death, provable damages for loss of income due to such injury or death shall not be diminished because of reimbursement of income to the plaintiff or decedent from any other source, nor shall the fact of any such reimbursement be admitted into evidence.
§ 8.01-52. Punitive damages may be recovered for willful or wanton conduct, or such recklessness as evinces a conscious disregard for the safety of others.
For wrongful death matters in the state of Virginia, the filing party has two years from the date of the death to bring forth a lawsuit. Note that this is from the date of the death, not the date of the incident.
Covenant Not to Sue and Indemnification: The Releasor knowingly, intentionally, and voluntarily covenants and agrees it will not now or in the future bring any action in law or equity in any court, forum, or arbitration proceeding (whether by original process, counterclaim, cross-claim, third-party process, impleader, ...
Appointment of administrator for prosecution of action for personal injury or wrongful death against or on behalf of estate of deceased resident or nonresident.