A covenant not to sue is a covenant entered into by a party who had a cause of action at the time of making it, and by which he agrees not to sue the party liable to such action. Covenants of this nature, are either covenants perpetual not to sue, or covenants not to sue for a limited time; for example, seven years.
A covenant not to sue is not a release. The difference is one of intent and grows out of the construction placed on the terms of the instrument, since a covenant not to sue is not a present abandonment or relinquishment of a right or claim but merely an agreement not to enforce an existing cause of action, and, although it may operate as a release between the parties to the agreement, it will not release a claim against joint obligors or joint tortfeasors. In the case of a release, there is an immediate discharge, whereas, in the case of a covenant not to sue, there is merely an agreement not to prosecute a suit.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Colorado Covenant Not to Sue by Parents Regarding a Claim of Their Minor Child is a legally binding agreement between parents and potentially liable entities or individuals involved in a specific incident where their minor child has been injured. This agreement prevents the parents from pursuing any legal action against the responsible parties in exchange for certain considerations. Such agreements are commonly used in situations where parents do not wish to engage in a legal battle or seek compensation for their child's injuries. In Colorado, there are generally two types of Covenant Not to Sue agreements that parents may encounter: 1. General Covenant Not to Sue: This type of agreement is a comprehensive document that releases all potential liable parties from any legal claims arising from the incident. By signing this agreement, parents agree that they will not sue or initiate any legal action against any person or entity involved in the incident leading to their child's injury. 2. Limited Covenant Not to Sue: In some cases, parents might choose to enter into a more specific Covenant Not to Sue agreement. This type of agreement limits the release of liability to only certain parties involved in the incident. For example, parents may choose to release an individual or organization from potential claims while still preserving their right to pursue legal action against other responsible parties. Keywords: Colorado, Covenant Not to Sue, parents, claim, minor child, legally binding agreement, liable entities, legally binding, legal action, compensation, injuries, agreement, incident, release of liability, responsible parties, specific incident, potential claims, engaging litigation, limited agreement.Colorado Covenant Not to Sue by Parents Regarding a Claim of Their Minor Child is a legally binding agreement between parents and potentially liable entities or individuals involved in a specific incident where their minor child has been injured. This agreement prevents the parents from pursuing any legal action against the responsible parties in exchange for certain considerations. Such agreements are commonly used in situations where parents do not wish to engage in a legal battle or seek compensation for their child's injuries. In Colorado, there are generally two types of Covenant Not to Sue agreements that parents may encounter: 1. General Covenant Not to Sue: This type of agreement is a comprehensive document that releases all potential liable parties from any legal claims arising from the incident. By signing this agreement, parents agree that they will not sue or initiate any legal action against any person or entity involved in the incident leading to their child's injury. 2. Limited Covenant Not to Sue: In some cases, parents might choose to enter into a more specific Covenant Not to Sue agreement. This type of agreement limits the release of liability to only certain parties involved in the incident. For example, parents may choose to release an individual or organization from potential claims while still preserving their right to pursue legal action against other responsible parties. Keywords: Colorado, Covenant Not to Sue, parents, claim, minor child, legally binding agreement, liable entities, legally binding, legal action, compensation, injuries, agreement, incident, release of liability, responsible parties, specific incident, potential claims, engaging litigation, limited agreement.
