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Statement Of Release Form for India

Statement Of Release Form Template for India

A Statement of Release Form under Indian law is a legally binding document that formally releases one party from claims, obligations, or liabilities owed to another party. This document, governed by the Indian Contract Act, 1872, serves as a formal waiver of rights and typically includes details of the parties involved, the specific claims or rights being released, any consideration provided, and the terms of the release. The document must comply with Indian contract law requirements regarding capacity, consent, and consideration, and may need to be properly stamped as per the Indian Stamp Act to be admissible in court.

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What is a Statement Of Release Form?

The Statement of Release Form is a crucial legal document used in Indian jurisdictions to formally discharge one party from claims, obligations, or liabilities owed to another. This document is commonly used in various situations including settlement of disputes, completion of projects, termination of employment, or resolution of accident claims. The form must comply with Indian legal requirements, particularly the Indian Contract Act, 1872, and may need proper stamping under the Indian Stamp Act. It typically includes identification of parties, details of what is being released, any consideration provided, and relevant terms and conditions. The Statement of Release Form can be used by both individuals and organizations and serves as crucial evidence in case of future disputes.

What sections should be included in a Statement Of Release Form?

1. Date and Place: Specifies the date and location where the release is executed

2. Parties: Identifies the Releasor (person giving the release) and Releasee (person being released), including their full legal names, addresses, and any relevant identifiers

3. Background: Explains the context and circumstances leading to the release, including any relevant incident or dispute

4. Definitions: Defines key terms used in the release document for clarity and legal certainty

5. Release Statement: The core section containing the explicit release language, detailing what claims, rights, or obligations are being released

6. Consideration: States the consideration (if any) being provided in exchange for the release

7. Binding Effect: Confirms that the release is binding on the parties and their successors

8. Governing Law: Specifies that Indian law governs the release and identifies relevant jurisdiction

9. Execution: Space for signatures, witness details, and notarization if required

What sections are optional to include in a Statement Of Release Form?

1. Non-Admission of Liability: Optional clause stating that the release does not constitute an admission of liability by any party

2. Confidentiality: Include when parties wish to keep the terms of the release and/or the underlying dispute confidential

3. Future Claims: Specific provisions about whether future or unknown claims are included in the release

4. Return of Property: Include when there is any property or documents that need to be returned as part of the release

5. Non-Disparagement: Optional clause preventing parties from making negative statements about each other

6. Severability: Include when parties want to ensure that if one part of the release is found invalid, the rest remains enforceable

What schedules should be included in a Statement Of Release Form?

1. Schedule A - Description of Claims: Detailed list of specific claims, rights, or disputes being released

2. Schedule B - Payment Terms: If applicable, detailed breakdown of any payment or consideration involved

3. Schedule C - Related Documents: List of any related agreements, court cases, or other relevant documents

4. Appendix 1 - Supporting Documents: Copies of any relevant supporting documentation referenced in the release

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

India

Publisher

Ƶ

Cost

Free to use
Relevant legal definitions
























Clauses






















Relevant Industries

Legal Services

Healthcare

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Relevant Roles

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Human Resources Manager

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Industries






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Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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