A General Release is used by an individual claimant (the “Releasor”) to release all claims against another individual or company (the “Releasee”). This type of form can be useful for settling a claim for minor damage to a vehicle, minor damage to property, damage caused by a pet or a child, etc…).
In order for the Release to be effective, there must be some consideration given (i.e. the Releasee must make some sort of payment or give something else of value to the Releasor in order to make the release enforceable).
By signing a Release Form, the Releasor will release the other party from all claims, not just one specific claim. The Releasor should be careful when signing this type of document and should not be signed unless the Releasor intends to release all claims against the person or company being released. If there is a possibility that the Releasor should have other claims against the person or company that will be released, Releasor should consult an attorney before signing.
A General Release of all Claims is also sometimes known as a Liability Release or a Legal Release.
There are other types of Releases such as Talent, Model or Entertainment related releases.