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In this scenario listed below, can George sue XYZ, Fred, and

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or Gloria at anytime? 1. Release...
In this scenario listed below, can George sue XYZ, Fred, and or Gloria at anytime?
1. Release of XYZ, Fred and Gloria. In exchange for the payments and other consideration set forth herein, except as provided hereinbefore, George, on behalf of himself, his heirs and assigns, hereby forever and unconditionally releases, discharges and acquits XYZ, Fred and Gloria and any of their agents, employees, officers, members, attorneys, successors and assigns and any person acting on any of their behalf from any and all suits, claims, costs, liabilities, damages, actions, expenses, attorneys’ fees and any other claim or cause of action of any type or nature, whether now existing, known or unknown, whether liquidated or unliquidated, whether matured or unmatured, whether it be for damages of any kind, whether general, special or punitive in any action at law or equity or administrative that George, or any party acting on behalf of George, may have or may claim to have by reason of, in connection with, or in any way related to XYZ or the operation of XYZ or any of the Funds contributed by George. George further agrees that neither he nor any person claiming by or through him shall ever commence, join in, assist, cooperate or participate in any adverse way in any suit or other proceeding against XYZ, Fred or Gloria existing as of the date of this agreement.
Submitted: 1 year ago.Category: Business Law
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5/20/2016
Business Lawyer: Richard - Bizlaw, Attorney replied 1 year ago
Richard - Bizlaw
Category: Business Law
Satisfied Customers: 10,703
Experience: 30 years of corporate, litigation and international law
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Hello, my name is ***** ***** I will try to help you. Please remember I just report or interpret the law, so the outcome may not be what you hoped for. What you wrote probably does what you want it to do. However, I suggeset that you use a general release form which has been tested for ages and is given effect. YOur form tries to achieve the same result but since it uses unique language some enterprises person might find a way to interpret it that avoids the effect you are trying to achieve. Below is a link to a standard general release. Once signed the releasing party cannot bring suit against the released party for any claim that existed at the date the release was signed.http://www.delafe.com/form/frmgrel.htm If I have answered all your questions, please positively rate my answer as that is how I receive credit. If you have more questions, please let me know. If the answer was especially helpful you can provide a bonus.
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Richard - Bizlaw
Richard - Bizlaw
Richard - Bizlaw, Attorney
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