release
Definition
A release is a legal document where one person agrees to give up their right to sue another person or business, usually in exchange for something of value like a cash payment. Once you sign a release, you permanently lose the ability to take that person to court over whatever issue the release covers, even if you later discover the problem was worse than you thought.
Example
If a customer slips and falls in your store and you pay them $500 to sign a release, they cannot come back later and sue you for $50,000 claiming their injury was more serious than they initially realized.
Watch Out
Always have a lawyer review any release before you sign one, because the language can be written so broadly that you accidentally give up rights you never intended to surrender.
See which terms appear in your contract?
This definition is for informational purposes only and does not constitute legal advice. Please consult with a licensed attorney for legal guidance.