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The Simple Release Of Liability agreement is a fundamental risk management tool used in Malaysian business and personal transactions. This document is essential when parties wish to prevent future legal claims arising from specific activities, events, or circumstances. Under Malaysian law, particularly the Contracts Act 1950 and Civil Law Act 1956, such releases must be carefully drafted to ensure enforceability while protecting the parties' interests. The document is commonly used in situations ranging from participation in recreational activities to settlement of disputes, and must include clear terms about the scope of release, consideration provided, and acknowledgment of understanding by all parties involved. It's particularly important to note that certain types of liability cannot be waived under Malaysian law, making precise drafting crucial.

1. Parties: Identifies and defines all parties to the agreement, including the releasing party (releasor) and the party being released (releasee)

2. Background: Provides context for the release, including relevant events, relationships, or circumstances leading to the release

3. Definitions: Defines key terms used throughout the agreement for clarity and consistency

4. Release and Discharge: Core section detailing the scope of the release, specific claims being released, and the nature of the discharge

5. Consideration: Specifies the consideration being provided in exchange for the release

6. Representations and Warranties: States that the releasing party understands the agreement and has the authority to grant the release

7. No Admission of Liability: Clarifies that the agreement and any consideration do not constitute an admission of liability

8. Governing Law: Specifies that Malaysian law governs the agreement and its interpretation

9. Entire Agreement: Confirms the release agreement represents the complete understanding between the parties