A Release of Liability Form is a document that protects a party against future legal claims that could be made in case of an accident, damages, or loss of money.
A Release of Liability Form includes two parties.
- Releasor: This is the party that is issuing a release of liability to another party
- Releasee: This is the party that is released from any legal accountability
This form is typically given to someone by an organization or company who wants to be released from any liability [1]. A Release of Liability form can also be used to release someone from liability after an accident or when one party agrees to release another party from a debt.
Under these circumstances, the releasee might pay the releasor a settlement in exchange for the release from any future liability [2].
A Release of Liability Form goes by different names, including:
- Liability Release Form
- General Release of Liability Form
- Liability Waiver
- Debt Settlement Release
- Waiver of Liability
A Release Form template makes it simple to protect yourself from future legal claims or lawsuits.