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 Rhode Island, a release or release agreement is a legally binding document that absolves one or more parties from further legal responsibility to another party or parties. These agreements are commonly used to settle disputes involving personal injury, property damage, or other claims of harm or loss. The release is often part of a settlement agreement, which may be reached before, during, or after litigation. The party granting the release (releasing party) typically does so in exchange for compensation, which could be monetary, property, services, or even an apology, depending on what the parties agree upon. It is important that the terms of the release are clear and that the agreement is executed properly to ensure its enforceability. Under Rhode Island law, the specifics of the release, such as the scope of the release and any limitations, should be carefully drafted and reviewed by an attorney to ensure that the rights and obligations of all parties are accurately reflected and legally compliant.