General Release by Individual Claimant/More Info

 General Release by Individual Claimant 
Additional Information 
Remember, this is a general release of all claims. This means that if you are an individual with more that one claim against another person, signing this general release will constitute a release of all of your claims.  Do not sign it unless you intend to release all claims you have against the person or company.  

Important Tips 

If you are the Releasee (the person paying the money), make sure you obtain releases from all potential claimants, if possible.  For example, if you are involved in a minor car accident and five people are in the other car, each of those five people may have a claim against you.  You should seek a release not only from the driver or owner of the car, but also from all of the occupants. 

If you are the Releasor (the person getting the money), make sure the amount paid to you is sufficient to cover both the injuries or losses you have sustained and the potential for additional losses and other claims that you may have. 

For example, before accepting a payment for minor damage to your car, make sure that you have suffered no physical injuries.  Sometimes, certain soft tissue or other injuries may not manifest themselves for days.  Also, because the damage to your car may be more extensive than a visible dent, it is advisable to have a repair shop check your car before accepting the payment. 

If you are a Releasor, be especially careful if more than one party caused your damage.  For example, if your car is hit by a taxi cab, you may have a claim against the driver of the cab, the cab owner, and their insurance companies.  The law in your state may provide that the release of one person automatically releases anyone else who is jointly liable. Consequently, releasing a claim against the cab driver may also release your claim against the cab owner and the insurance companies. 

In addition, the law may differ from state to state. If the Releasor lives in one state, the Releasee in another, and the accident occurs in a third state, the Releasor may have choice of bringing his or her claim in any one of the three states.  A lawyer can advise about which state is the best to assert the claim. 

Additional Information 

Releases are generally construed and enforced according to contract law.  This means that there must be consideration given for the release to be effective.  In other words, the Release must make some sort of payment or give something else of value to the Releasor in order to make the contract enforceable.