THIS A BUSINESS LAW QUESTION, I COULDN'T FIND A SECTION FOR LAW.
A Release is a type of settlement agreement that bars any further recovery beyond the terms stated in the release. This settlement agreement is a contract and it is supported by consideration - legal value and bargained-for-exchange - as the parties are each giving up something to get something.
You will draft a release based on the following fact pattern. You will complete the release by filling in the brackets on the Release of Claims_Template.docx. Make up any necessary facts - addresses etc. Delete all brackets so that you are submitting a clean, professional contractual document.
_____________________________________________________________________________________________________
On January 4, 2020, Lisa V. was driving her car in Beverly Hills. She needed to get fresh air and while she was driving, she was listening to the entertainment news on her radio and was very upset by the rumors that were being reported about her. At approximately 7:00 p.m., Lisa went into the intersection at Rodeo Dr. and Sunset Blvd. As she entered the intersection, she collided with another car that was being driven by Brandi G. Both drivers got out and inspected the cars and took the proper information from each other and left.
It was estimated that there was damage to each car. Brandi had her attorneys contact Lisa after the accident. Lisa was so distraught, she thinks that she went through a red light and caused the accident. She negotiated with Brandi's attorneys and was willing to pay $4,000 to make this go away.
Lisa comes to you and asks you if you would write a release for her.
GENERAL RELEASE OF EXISTING CLAIMS [BRANDI GLANVILLE street address], [city and state), hereinafter referred to as "Brandi," and LISA VANDERPUMP, (street address], [city and state), hereinafter referred to as "Lisa" in consideration of the promises made herein, agree as follows: [You must put in a legally accurate description of the event. Remember, date, time, location and any other identifying information as to the incident.] Brandi, on behalf of [himself/herself/their selves], [his/her/their] heirs, executors, administrators, and assigns, and in consideration of $_ paid to [him/her/them] by Lisa, hereby fully releases Lisa, [his/her/their] successors, and all other persons and associations, known or unknown, from all claims and causes of action by reason of any injury and/or damage which has been sustained, or may be sustained, as a result of the above-described transaction Lisa on behalf of [himself/herself/their selves], [his/her/their] heirs, executors, administrators, and assigns, and in consideration of paying $ to Brandi, hereby fully releases Brandi, [his/her/their] successors, and all other persons and associations, known or unknown, from all claims and causes of action by reason of any injury and/or damage which has been sustained, or may be sustained, as a result of the above-described transaction Each party acknowledges and agrees that this release applies to all claims that each party may have against the other party arising out of the above-described transaction for injuries, damages, or losses to the other party's person and property, real or personal, whether those injuries, damages, or losses are known or unknown, foreseen or unforeseen, or patent or latent. Each party certifies that he/she/they] have read Section 1542 of the Civil Code, set out below, and indicates that fact by signing (his/her] initials here: "A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor." Each party hereby waives application of Section 1542 of the Civil Code. Each party understands and acknowledges that the significance and consequence of this waiver of Section 1542 of the Civil Code is that even if either party should eventually suffer additional damages arising out of the above- described transaction, [he/she/they] will not be permitted to make any claim for those damages. Furthermore, both parties acknowledges that he/she/they] intend these consequences even as to claims for injury and/or damages that may exist as of the date of this release but which either party does not know exist, and which, if known, would materially affect either party's decision to execute this release, regardless of whether either party's lack of knowledge is the result of ignorance, oversight, error, negligence, or any other cause. Each party warrants and represents that in executing this release, [he/she/they] have relied on legal advice from the attorney of his/her choice, that the terms of this release and its consequences have been completely read and explained to each party by their respective attorney, and that each party fully understands the terms of this release. Each party further acknowledges and represents that, in executing this release, [he/she/they] have not relied on any inducements, promises, or representations made by the opposing party or any party representing or serving the opposing party Each party acknowledges and warrants that his/her/their] execution of this release is free and voluntary. This release pertains to a disputed claim and does not constitute an admission of liability by either party for the above-described transaction. READ THE ABOVE CAREFULLY BEFORE SIGNING Date: LISA VANDERPUMP Date: BRANDI GLANVILLE GENERAL RELEASE OF EXISTING CLAIMS [BRANDI GLANVILLE street address], [city and state), hereinafter referred to as "Brandi," and LISA VANDERPUMP, (street address], [city and state), hereinafter referred to as "Lisa" in consideration of the promises made herein, agree as follows: [You must put in a legally accurate description of the event. Remember, date, time, location and any other identifying information as to the incident.] Brandi, on behalf of [himself/herself/their selves], [his/her/their] heirs, executors, administrators, and assigns, and in consideration of $_ paid to [him/her/them] by Lisa, hereby fully releases Lisa, [his/her/their] successors, and all other persons and associations, known or unknown, from all claims and causes of action by reason of any injury and/or damage which has been sustained, or may be sustained, as a result of the above-described transaction Lisa on behalf of [himself/herself/their selves], [his/her/their] heirs, executors, administrators, and assigns, and in consideration of paying $ to Brandi, hereby fully releases Brandi, [his/her/their] successors, and all other persons and associations, known or unknown, from all claims and causes of action by reason of any injury and/or damage which has been sustained, or may be sustained, as a result of the above-described transaction Each party acknowledges and agrees that this release applies to all claims that each party may have against the other party arising out of the above-described transaction for injuries, damages, or losses to the other party's person and property, real or personal, whether those injuries, damages, or losses are known or unknown, foreseen or unforeseen, or patent or latent. Each party certifies that he/she/they] have read Section 1542 of the Civil Code, set out below, and indicates that fact by signing (his/her] initials here: "A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor." Each party hereby waives application of Section 1542 of the Civil Code. Each party understands and acknowledges that the significance and consequence of this waiver of Section 1542 of the Civil Code is that even if either party should eventually suffer additional damages arising out of the above- described transaction, [he/she/they] will not be permitted to make any claim for those damages. Furthermore, both parties acknowledges that he/she/they] intend these consequences even as to claims for injury and/or damages that may exist as of the date of this release but which either party does not know exist, and which, if known, would materially affect either party's decision to execute this release, regardless of whether either party's lack of knowledge is the result of ignorance, oversight, error, negligence, or any other cause. Each party warrants and represents that in executing this release, [he/she/they] have relied on legal advice from the attorney of his/her choice, that the terms of this release and its consequences have been completely read and explained to each party by their respective attorney, and that each party fully understands the terms of this release. Each party further acknowledges and represents that, in executing this release, [he/she/they] have not relied on any inducements, promises, or representations made by the opposing party or any party representing or serving the opposing party Each party acknowledges and warrants that his/her/their] execution of this release is free and voluntary. This release pertains to a disputed claim and does not constitute an admission of liability by either party for the above-described transaction. READ THE ABOVE CAREFULLY BEFORE SIGNING Date: LISA VANDERPUMP Date: BRANDI GLANVILLE
