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General Mutual Release and Settlement Agreement between Endless Youth...

Riverside California General Mutual Release and Settlement Agreement between Endless Youth Products, Inc. and Sun Ten Laboratories

Name: Riverside California General Mutual Release and Settlement Agreement between Endless Youth Products, Inc. and Sun Ten Laboratories
Brand: US Legal Forms
Rating: 4.66 (379 reviews)

Category:

Corporations - Public

State:

Multi-State

County:

Riverside

Control #:

US-EG-9279

Format:

Instant download

Description

General Mutual Release and Settlement Agreement between Endless Youth Products, Inc. and Sun Ten Laboratories, Inc. dated July 7, 1999. 4 pages.

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FAQ

A mutual release is a document designed to be signed by both the buyers and sellers to cancel an agreement of purchase and sale. When executed, this document cancels the agreement and releases all parties from any future liabilities or claims.

A Mutual Release Agreement is a straightforward document that allows you to settle disputes quickly and professionally. No matter what your dispute, a Mutual Release Agreement allows both parties to agree to drop all claims and get out of the contract.

A settlement and release agreement, or a mutual release and settlement agreement, is a legal agreement between parties. The settlement agreement may absolve a party from specific or any and all causes of action, liabilities, charges, or claims.

A release is made for valuable consideration. The consideration should be a thing of value. There will be a presumption as to the existence of consideration when the release is made in a sealed document. Consideration must be something to which a discharger became entitled only due to the release.

In other words, you're signing a document that requires the other party to pay you in exchange for the other party being released from responsibility for the accident. A release form should contain the following information about your claim: Identification of the parties involved.

A settlement package is as a collection of pertinent documentary evidence relating to your injury, typically accompanied by a letter outlining the injuries and economic losses. Insurance Companies won't pay if you can't prove that you've suffered, so it is important to prepare a proper settlement package.

Validity. Since it is a contract, a release is subject to the same validity requirements as a contract. A voluntary release that is obtained in exchange for valuable consideration from an individual who is capable of totally understanding its legal effect is valid.

Settlement release agreements are documents signed by settling parties that lay out the terms of the settlement. The release component of the agreement refers to the terms outlining what specific claims are dealt with in the settlement agreement.

The Parties agree that the consideration set out in the Settlement Agreement, the receipt and sufficiency of which is acknowledged, is the sole consideration for this Mutual Release.

More info

Date of Merger: August 2, 1997. In January 1994, Sun Ten Laboratories acquired the license for the patented inventions of Robert J. Bowers' company, Nautilus Microsystems, including the proprietary technology that makes the product. During that transaction, the company's shares were purchased from Nautilus Microsystems for 2.5 million, a sum that was later reduced to 1.0 million. On September 13, 1998, Endless Youth Products (Endless? Y?) filed a complaint in the U.S. District Court for the Southern District of New York (the “Federal court”) against Sun Ten Laboratories, claiming (1) infringement of their patent, “System and Method for Automatically Making a Portable Product by Determining the Requirements for Use of a Product on the Basis of Data Based on Historical Information” (“Bowers Patent”), 14 U.S.C. § 1159, and (2) the wrongful purchase of their Bowers Patent. On October 18, 1998, Nautilus filed a motion to dismiss this complaint.

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Riverside California General Mutual Release and Settlement Agreement between Endless Youth Products, Inc. and Sun Ten Laboratories

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