MUTUAL RELEASE BY TWO PARTNERS ON ENDING OF PARTNERSHIP

 

THIS RELEASE DEED is executed on the _________________

BETWEEN

Sh. ________________, S/o Sh. ________________, R/o _______________________ of the first part;

AND

Sh. ____________, S/o Sh. _____________, R/o_____________________ of the second part; both parties hereinafter collectedly referring as parties with individually as first party, and second party respectively, which expression shall be including their related lawful successors, heirs, representatives and assigns.

WHEREAS

1. The aforesaid parties were doing the business of _________ per partnership under the deed of partnership dated the ______ day of ______ under the firm name of _______.

2. The aforesaid parties, by mutual agreement have, ended the said partnership, with effect from ______.

 Each party hereby releases the other party, from all sums of money, accounts, proceedings, claims/demands whatever which either of them had previously at any time had for any reason concerning the partnership as held before hand by the parties.

It is also declared that amount or value of the claim hereby disclaimed is Rs. _____________.

In witness where of, the parties to this deed have set their hands in the presence of

______________________

Party of the first part

______________________

Party of the second part

Witnesses:

1.

2.