Mutual Rescission of Contract

This is a document that allows the parties to an existing contract to rescind their agreement and be released from all legal rights and obligations under the contract. For this agreement to be valid, both parties must voluntarily consent to the recession. In addition, the original contract can be attached to this agreement under ?Exhibit A?. This document should be used by individuals or entities that agree to mutually release each other from all liabilities, obligations and claims arising out of a previously executed contract.