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 West Virginia (WV), 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. This type of agreement is commonly used to settle disputes without going to trial, and it may be executed before, during, or after litigation. The party that is potentially liable (the released party) typically offers compensation or another form of consideration, such as money or even an apology, to the party that has suffered harm (the releasing party). The releasing party, in turn, agrees not to pursue any further legal action on the matter. It's important to note that for a release agreement to be enforceable in WV, it must be supported by consideration, meaning that there must be a negotiated exchange of value, and it must be entered into knowingly and voluntarily by all parties. Additionally, the terms of the release must be clear and unambiguous, and it must comply with any relevant state statutes that may govern the settlement of specific types of claims, such as workers' compensation or personal injury claims.