Legal Definitions - releaser

A releaser is the party who gives up or surrenders a legal right, claim, or obligation. This act, known as a release, typically involves one party agreeing to forgo a potential lawsuit or claim against another party, often in exchange for something of value, such as a payment or a promise.

Here are some examples to illustrate the concept of a releaser:

• Imagine a situation where a homeowner discovers a minor defect in their newly purchased house after closing. Rather than pursuing legal action against the builder, the homeowner agrees to accept a small financial compensation from the builder in exchange for signing a document stating they will not sue for this particular defect. In this scenario, the homeowner is the releaser because they are giving up their right to sue the builder for the defect.

• Consider an individual who was injured in a slip-and-fall accident at a grocery store. After negotiations, the grocery store's insurance company offers a settlement payment. If the injured individual accepts the payment and signs a release form, agreeing not to pursue further legal claims related to that specific accident, then the injured individual is the releaser. They are relinquishing their right to sue the grocery store for their injuries.

• An employee is leaving a company and, as part of their severance package, is asked to sign an agreement that waives their right to sue the company for any claims related to their employment or termination. By signing this document, the employee acts as the releaser, giving up potential legal claims they might have had against their former employer in exchange for the severance benefits.