Back to top
Mutual Rescission and Release Agreement Fill out the template

Mutual Rescission and Release Agreement

Last revision
Last revision 15/08/2020
Formats
Formats Word and PDF
Size
Size 2 pages
Fill out the template

About the template

Last revision: 15/08/2020

Size: 2 pages

Available formats: Word and PDF

Fill out the template

How does it work?

1. Choose this template

Start by clicking on "Fill out the template"

1 / Choose this template

2. Complete the document

Answer a few questions and your document is created automatically.

2 / Complete the document

3. Save - Print

Your document is ready! You will receive it in Word and PDF formats. You will be able to modify it.

3 / Save - Print

Mutual Rescission and Release Agreement

A Mutual Rescission and Release Agreement is a document that allows the parties to a contract to rescind and release themselves from their contractual obligations. When parties sign a contract, they are obligated to fulfill the terms of the contract. However, for some reason, the parties may not satisfy these terms, and the only way out might be to terminate the contract. This can be done through a Mutual Rescission and Release Agreement.

Parties to a contract can use this document to cancel any agreement, such as the IP Licensing Agreement, Joint Venture Agreement, Sale of Goods Agreement, or any other contract. Conversely, if a party wants to modify or change the terms of their agreement, the Contract Amendment should be used.

This document implies that parties are put in the same status quo as they were before they entered into their contract, and they will not be held liable to perform the obligations under the contract.

This document can be used when a party is not performing its duties under the contract, and the transaction is not working as planned. In these cases, the parties to that agreement can agree to cancel it altogether.


How to use this document

The first step is to ensure that all the parties to the contract have agreed to cancel or invalidate their contract. After that, this document should be completed by entering all the required information.

After completing the document, it should be printed, and copies of this document should be signed by all the parties to the agreement.

If one of the parties is a Nigerian company, the document should be signed by either two directors of the company or one director and one company secretary. If one of the parties is a business name, incorporated trustees or other registered organization, the document should be signed by one officer of the organization.

Each party should keep one signed copy for their record.


Applicable law

The general rules of contract apply to this document.


How to modify the template

You fill out a form. The document is created before your eyes as you respond to the questions.

At the end, you receive it in Word and PDF formats. You can modify it and reuse it.

Fill out the template