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Mutual Rescission and Release Agreement Policy
Mutual Rescission and Release Agreement Policy
This Mutual Rescission and Release Agreement is made this August 8, 2020 (the
"Effective Date") by and between the following parties:
________
AND
________
The Parties may individually referred to as (the "Party" which expression shall where
the context so admits include its successors-in-title and assigns) and collectively
referred to as the "Parties".
BACKGROUND
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The Parties acknowledge that neither of the Parties has fully performed their
obligations and duties stipulated in the Original Contract.
Therefore, the Parties mutually agree to rescind the Original Contract and release
each other from the obligations under the Contract.
1. The Parties mutually agree that as of the Effective Date, the Original Contract
is hereby terminated and shall become null and void. Neither of the Parties shall
have any rights or obligations under the Original Contract.
2. The Parties are discharged and released from all liabilities arising from the
Original Contract. Each Party also waives their rights to any claim or right or
bring any action against the other Party, their heirs, legal representatives,
administrators, or executors from any liability or damage relating to the Original
Contract presently or any time in the future.
IN WITNESS WHEREOF the Parties hereto have executed this Agreement this day
and year first written above.
______________________
DIRECTOR
______________________
DIRECTOR/SECRETARY
______________________
DIRECTOR
______________________
DIRECTOR/SECRETARY