CAR ACCIDENT RELEASE OF LIABILITY
This Car Accident Release of Liability (referred to as the 'Agreement') is dated as of _________ and is made BY AND BETWEEN:
I, _________, the Releasor, and with a permanent address at: _________
The Releasee, _________, with a permanent address at: _________
IN CONSIDERATION OF the covenants and terms contained in this Agreement and other good and valuable consideration, the receipt of which is hereby acknowledged, the parties to this Agreement agree to the following:
Consideration
1. In consideration of the promise of the herein release, the receipt and sufficiency of which consideration is acknowledged, the Releasee, the Releasee's spouse, heirs, executors, administrators, legal representatives, and assigns are released and forever discharged by the Releasor from all manner of action, debts, accounts, bonds, contracts, claims, and demands for or by reason of any damage, loss, or injury to person and property which has been or may be sustained as a result of an accident involving a motor vehicle. The motor vehicle accident is described below:
Details of Accident
2. The accident as a result of which the claim is produced occurred in _________ on _________ at _________. The accident is described in the manner that follows: _________.
Concurrent Release
3. The Releasor acknowledges that this Agreement is intended to extinguish certain obligations owed to the Releasor and to bind the Releasor's spouse, heirs, executors, administrators, legal representatives, and assigns.
Payment or Consideration
4. The Releasor has received good and adequate value consideration for this release, which includes a mutual release of the Releasor to the Releasee and of the Releasee to the Releasor.
Full and Final Settlement
5. The Releasor understands and acknowledges that they may have suffered injuries or complications unknown at present. The settlement amount was determined taking into consideration this possibility, and the Releasor is releasing these unknown claims as part of this full and final settlement.
6. The parties to this Agreement mutually agree not to make any claim or initiate proceedings against any other party, including another person or corporation, that might claim contribution or indemnity under the provisions of any statute or otherwise.
7. The Releasor and the Releasee hereby declare that the terms of this settlement are fully understood. Further, the Parties hereby acknowledge that the amount or type of consideration stated herein is the sole consideration for this Agreement, and the sum is accepted voluntarily with the purpose of effecting a full and final compromise, adjustment, and settlement of all claims for injuries, losses, and damages resulting or which may result from the motor vehicle accident described above.
8. This Agreement constitutes the entire agreement between the Parties to this settlement, its terms are contractual in nature, and these do not constitute a recital of non-binding terms.
No Admission of Liability
9. It is hereby agreed by the Parties that the payment herein stated shall not be construed and interpreted as an admission of liability on the Releasee or any other party's part.
Governing Law
10. This Agreement shall be governed, interpreted, and construed under the laws of the State of Alabama.
IN WITNESS WHEREOF the Releasor and Releasee have duly affixed their signatures under hand and seal on this _________.
_____________________________ Witness: _________________ | Per:_____________________________ (Seal) _________ |
_____________________________ Witness: _________________ | Per:_____________________________ (Seal) _________ |