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What's a mutual rescission and release agreement?
Sometimes, for any number of reasons, terms of a contract go unfulfilled. In some instances, it is in both parties’ interest to simply invalidate it, rather than have it linger or be forgotten about until there is some kind of problem or dispute. That is when you need a mutual rescission of contract and release agreement to effectively, officially annul the contract and move on with your business.
Here's the info you'll need to have handy to complete your doc:
Who it's coming from
Determine if a business or individual is sending the doc and have the name and contact info ready.
Who it's going to
Know who this doc is going to and have the individual or business name and contact info ready. If it's a business, make sure you know the business type (LLC, corporation, etc.).
Which state will govern it
Specify a state so it's clear what laws apply to the document.
Decide if both parties are obligated by any confidentiality provisions, and if they agree to keep this matter private.
Know the effective date of the original agreement.