Release of Liability Form
A Release of Liability form is an agreement in which the parties agree to waive a legal claim or right to sue in exchange for compensation, typically. This is a way for the parties to settle a dispute out of court.
A Release of Liability form can be used for a variety of circumstances, such as after a car accident or even for future claims before any damage has occurred, such as a waiver signed before participating in certain high-risk or physical activities, examples may include: snowboarding, snowtubing, ziplining etc.…
A Motor Vehicle Accident Waiver and Release or Motor Vehicle Accident Release of Liability form is a binding agreement in which the parties agree to a settlement that is reached outside of court. The Form ensures that the parties involved in the car accident will not sue the other party. It is a general release of possible civil claims arising from the car accident.
Once signed this agreement is binding and the parties involved in the accident are no longer liable to one another for any injuries or damages arising from the accident. Typically, the person at fault in the accident will pay for any damages out of their pocket or through their insurance. This agreement helps the parties settle their dispute out of court.
The Parties:
The Releasor: is the person who is signing away their rights to sue in court and is the person to whom the damage was done to. Typically, in exchange for the release they Releasor receives payment or some sort or other compensation for waiving their right to sue.
The Releasee: is the person who is responsible for the accident and at risk for being sued. The Releasee is the one making the payment in order to be release from a possible claim of injury or damage.
Other Information:
Other information included in a Motor Vehicle Accident Release of Liability form is the date and where the accident occurred. As well as, the compensation or consideration being giver for the release.
Signing:
The Parties then sign the agreement.
The Parties may decide to either have a Witness (a neutral third-party, not related to the parties and who is of legal age) or a notary public present when they sign, although it is not necessary. However, signing in front of a notary or with a witness present does offer better evidence in case a dispute should ever arise in the future.
This form is also known by the following other names:
Release Form
Waiver and Release form
Car Accident Release of Liability
Waiver Agreement
Waiver of Liability
Car accident Release of Liability
Settlement Agreement