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A Release, Waiver, and Quitclaim (One-Way) is used when one party (the "Releasor") is releasing another party (the "Released") from any liability or obligations connected to or arising from a specific transaction.
A Release, Waiver, and Quitclaim is usually given by the Releasor to settle a dispute between the Parties, such as when the Releasor is alleging that the Released is liable to the Releasor for some reason, out of Court.
In signing a Release, Waiver, and Quitclaim, the Released does not actually have to admit liability. In fact, this document has the option to specifically confirm that the Released is not admitting any liability.
However, without actually admitting any liability, a Release, Waiver, and Quitclaim, signed by the Releasor releases the Released from all relevant liabilities connected to the specific transaction for which the Release, Waiver, and Quitclaim was signed. In return, the Released may agree to provide some kind of compensation to the Releasor. This compensation is usually in the form of money but other goods and services may also be used as compensation.
Once a Release, Waiver, and Quitclaim is signed by the Releasor, the Releasor can take no further action against the Released, in connection to the specific transaction. This means that the Releasor may be giving up some of their legal rights. Therefore, if the Parties have any concerns about this, they should seek legal advice.
This document is specifically drafted for a situation where one party is releasing the other party from liability in a non-employment situation. If both parties are releasing each other from liability in a non-employment situation, then a Mutual Release, Waiver, and Quitclaim should be used. If the Release, Waiver, and Quitclaim is connected to an employment situation, then a Release, Waiver, and Quitclaim for employment purposes should be used.
How to use this document
The user should enter all the information required to complete the document. Once completed, the Releasor should review the document and, if all the information is found to be correct, sign the same.
If the Releasor is an organization or business, such as a corporation, partnership, or sole proprietorship, the Releasor should authorize a person (the "Representative") to sign the document. The Representative is usually a person within the organization of the Releasor. When signing the Release, Waiver, and Quitclaim, the Representative should attach the document showing their authority. If the Releasor is a corporation, this document is usually a Secretary's Certificate showing a Board Resolution authorizing the Representative to sign the document. If the Releasor is organized as a partnership, then it is usually a Partners' Certificate, and if the Releasor is organized as a sole proprietorship, then it could be a Special Power of Attorney.
Notarizing the document
If the parties want to acknowledge the document, this document also contains an Acknowledgment. An Acknowledgment is an act of a person before a notary public stating that the signature on a document was voluntarily affixed by him and he executed the document as his free and voluntary act.
Acknowledging the document is optional however, a document that is acknowledged before a notary public turns the document into a public document. Public documents are generally self-authenticating, meaning no other evidence will be needed to prove that the Releasor signed the Release, Waiver, and Quitclaim.
If the document will be acknowledged, the Releasor (or their Representative) should present themselves before a notary public with all the copies of the document and swear an oath to the foregoing. The Releasor (or their Representative) should also bring a competent form of identification, such as a passport or driver's license. A competent form of identification is a current identification document bearing the photograph and signature of the Releasor (or their Representative) and should have been issued by an official agency.
If the document is acknowledged, the notary public will keep one original copy of the document. Both parties should each keep a copy of the document for their records.
There are no laws that apply specifically to a Release, Waiver, and Quitclaim however, the general laws on obligations found in the Civil Code of the Philippines may apply. Further, acknowledgments are governed by the 2004 Rules on Notarial Practice. It should also be noted that making untruthful statements in a notarized document may be punishable under the Revised Penal Code of the Philippines.
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