Two parties that have previously entered into a contract with one another and wish to rescind or cancel the contract may use this Mutual Rescission and Release Agreement.
Two parties that have previously entered into a contract with one another and wish to rescind or cancel the contract may avail of this Mutual Rescission and Release Agreement. This document is known for its simplicity as it only provides necessary information about why the parties wish to terminate the contract and confirm that they will have no claims against each other in the future.
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.
If two parties wish to withdraw from the contract, they can avail themselves of this document. Note that they can use this document only if both sides agree to cancel their duties between them.
The document includes parties' identifying information, such as names and addresses. Also, you'll need to answer a few questions about the original contract, its name, and when it was signed. A completed document should be printed and signed and kept by both parties. We recommend attaching a copy of the original contract as an Exhibit.
Various laws govern a Mutual Rescission and Release Agreement. It depends on what the particular contract is about. Most of the time, the agreements are covered by a state-specific law