Traffic Accident Mutual Release Of Liability

Traffic Accident Mutual Release of Liability

I. Parties Involved

This Traffic Accident Mutual Release of Liability ("Release") is made and entered into by and between:

[Party 1's Full Name], residing at [Party 1's Address], hereinafter referred to as "Party 1".

[Party 2's Full Name], residing at [Party 2's Address], hereinafter referred to as "Party 2".

II. Recitals

WHEREAS, Party 1 and Party 2 were involved in a motor vehicle accident on [Date of Accident], at or near [Location of Accident];

WHEREAS, Party 1 and Party 2 desire to resolve any claims or potential claims arising from the accident;

NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, the sufficiency of which is acknowledged, the parties agree as follows:

III. Release of Liability

3.1 Release and Discharge: Party 1 hereby releases and forever discharges Party 2, their agents, employees, insurers, and representatives, from any claims, actions, suits, demands, damages, liabilities, and expenses, whether known or unknown, arising from the aforementioned accident.

3.2 Mutual Release: Likewise, Party 2 hereby releases and forever discharges Party 1, their agents, employees, insurers, and representatives, from any claims, actions, suits, demands, damages, liabilities, and expenses, whether known or unknown, arising from the aforementioned accident.

IV. Agreement Terms

4.1 No Admission of Liability: This Release is not an admission of liability by any party and is entered into solely to avoid the uncertainties and costs associated with potential litigation.

4.2 No Further Claims: Each party agrees not to make any further claims against the other party or their insurers related to the accident.

4.3 Representations and Warranties: Each party represents and warrants that they have the authority to enter into this Release and that they have not assigned or transferred any claims related to the accident.

V. Miscellaneous

5.1 Governing Law: This Release shall be governed by and construed by the laws of [Jurisdiction].

5.2 Entire Agreement: This Release constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, oral or written.

IN WITNESS WHEREOF, the parties have executed this Traffic Accident Mutual Release of Liability on the date first above written.