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MUTUAL RESCISSION AND RELEASE AGREEMENT
This Mutual Rescission and Release Agreement is made this ________ (the "Effective Date") by and between the following parties:
________, of the following address:
________
AND
________, of the following address:
________
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
The Parties entered a ________ (the "Original Contract") agreement on ________. The Original Contract was established for the following purpose:
________
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.
Now, therefore, in consideration of the covenants, promises, and assurances (the receipt of which are hereby acknowledged), the Parties agree as follows:
IN WITNESS WHEREOF the Parties hereto have executed this Agreement this day and year first written above.
SIGNED by ________
______________________
in the presence of:
Name................................................................................................................
Address.............................................................................................................
Occupation........................................................................................................
Signature..........................................................................................................
SIGNED by ________
______________________
in the presence of:
Name................................................................................................................
Address.............................................................................................................
Occupation........................................................................................................
Signature..........................................................................................................
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