Overview

This Deed of Release is used where the Releasee is an individual and the Releasor is a company. This mutual deed of release is entered into whereby each party releases the other from all obligations and liabilities in full settlement of all outstanding issues between the parties.

This deed of release contemplates that either:

• the parties have entered various transactions and/or contracts and that no Court proceedings have commenced, or
  
• that the parties have claims against one another but no proceedings have commenced, or
  
• that the Releasor has commenced proceedings and the Releasee has cross-claims and this deed is in settlement of all claims.

This Deed of Release also provides an option whereby either party may be paying the other party a specified sum (consideration) in addition to the mutual releases, promises and undertakings given by each party.

This deed of release includes the following provisions:

1. Interpretation
2. Consideration for the Release
3. Release by Releasor
4. Confidentiality
5. Deed May be Pleaded as Bar to Actions
6. Entire Agreement
7. Costs
8. Severance
9. Counterparts
10. Any Other Necessary Acts
11. Independent Legal Advice

LAWLIVE recommends: this is a document which involves the creation of complex legal rights and obligations and may give rise to various taxation and liability consequences. The best way to use this document is to complete it, print it out, print out all of the checklists that apply to it and all other LawLive information that relates to this type of document. When you have done this, LawLive recommends you instruct lawyers to assist you in the finalisation of the document and that you take tax advice from your accountant or tax adviser as to any taxation consequences.