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 South Carolina, a release or release agreement is a legally binding document that absolves one or more parties from further legal responsibility to another party. These agreements are commonly used to settle disputes involving allegations of harm or damage, such as personal injury, property damage, or other types of claims. The party that is potentially liable (the released party) typically provides compensation or something else of value, which could even be an apology, to the party that has been harmed (the releasing party). This exchange is made in return for the release from future legal action regarding the incident in question. Releases can be executed before, during, or after litigation has commenced, and they are often a critical component of settlement agreements. It is important for parties in South Carolina to ensure that release agreements are drafted clearly and encompass all relevant legal claims to avoid future disputes over the terms or scope of the release.