Release of Claims

A release of claims is a legal document in which one party agrees to relinquish their right to pursue legal action against another party for a specific incident or set of circumstances. The release typically includes a description of the claims being released, the consideration provided in exchange for the release (such as a monetary settlement), and the scope of the release. Releases of claims are often used to resolve disputes or potential legal claims without the need for litigation. By signing a release, the party agrees to give up their right to sue in exchange for some benefit, such as compensation or a promise to take corrective action.