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A recent opinion by Vice Chancellor Tamika Montgomery-Reeves illustrates the pitfalls in not specifically addressing the scope of “mutual general releases” when agreeing to settle litigation.
However, most releases are much more detailed in the recitation of what is being released and the extent of the release (where it is valid, when it become valid if there are conditions on its validity, the amount of consideration if it is substantial) and they are either copied and modified as necessary from various form books or drafting manuals used by lawyers or are preprinted forms that ...
The goal of a Texas two-step is for the parent company to gain a third-party release of all liabilities it assigned to its spinoff, thus preventing litigants from pursuing those claims against the parent. [1] [2] [3]
In law, set-off or netting is a legal technique applied between persons or businesses with mutual rights and liabilities, replacing gross positions with net positions. [1] [2] It permits the rights to be used to discharge the liabilities where cross claims exist between a plaintiff and a respondent, the result being that the gross claims of mutual debt produce a single net claim. [3]
The lawsuit claims that Cardello-Smith and Combs met while he was working at a Detroit-area restaurant in 1997. During a night of drinking and weed-smoking, they reportedly had sex with a group of ...
a claim in respect of any one casualty where the aggregate claim against all insurers exceeds $500,000 or the equivalent in any other currency prior to adjustment for any franchise or deductible under the terms of the policy, shall, subject to the prior written consent of the Assignee, be paid to the Owner as and when [the vessel] (the "Vessel ...
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WASHINGTON — President Joe Biden announced Friday that Israel has proposed a three-part plan that would ultimately lead to a permanent cease-fire in the Gaza Strip, as well as the release of all ...
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