A release or release agreement is a document or other enforceable agreement that releases one party from further liability to another—or releases two or more parties from further liability to each other. A release is typically signed or executed by the parties following an incident, claim, or lawsuit in which one party (the releasing party) claims another party (the released party) caused physical, financial, or emotional damage to the releasing party.
A release is typically included in a settlement agreement to resolve such claims before, during, or after a lawsuit is filed involving the incident or claim. The release is typically given by the releasing party in exchange for the released party paying money or giving or doing something else of value that the releasing party will accept in exchange—even an apology may be given in exchange for a release if the releasing party is willing to accept the apology in exchange for the release.
In Arizona, a release or release agreement is a legally binding document where one party agrees to relinquish their right to pursue further legal action against another party in exchange for compensation or another form of value. This agreement is often used to settle disputes without going to trial and can be part of a larger settlement agreement. The compensation can be monetary or non-monetary, such as property or an apology. Once signed, the release typically prevents the releasing party from filing any future claims against the released party related to the incident in question. It's important for parties in Arizona to understand that signing a release agreement generally means giving up certain legal rights, and it is advisable to consult with an attorney before entering into such an agreement to ensure that one's rights and interests are adequately protected and that the terms of the release are clear and enforceable under Arizona law.