Deed of release and forgiveness to be utilised if a person is to be freed from performing an obligation.
Sample
"A. By an Agreement made the # day of # ("the Agreement"), the Lendor agreed to lend to ## A.C.N. ## ("the Borrower") an amount of money of which an amount of $ ## remains due owing and payable ("the Principal Sum").
B. The Borrower has effected payment of all interest and other charges levied against the original sum advanced but has not repaid the Principal Sum to the Lender.
C. The Lender has agreed to forgive and release the Borrower from all further obligations.
1. Subject to this Deed and the Principal Sum being paid by the Debtor, the Creditor releases the Debtor in respect of all existing and future actions, causes of action, potential causes of action, suits, rights, claims, expenses, losses, proceedings and demands of whatsoever nature (including, without limitation, any claim for costs, interest or indemnity), wherever and howsoever arising, known or unknown, relating to or arising out of any claim or proceeding......"
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Release and forgiveness - deed - COMM 25
