Consumers, employees and other individuals may be asked to sign a release of liability form in order to participate in certain events or utilize certain services. In most cases, the form waives the signing party's right to sue an organization if the signing party sustains injury or harm as a result of the event or service.
Release of liability forms are used in situations that expose an individual or organization to a significant amount of liability. A signed release of liability form indicates that the signing party acknowledges the possible consequences of participating in an activity and that his participation is strictly voluntary. The signed form holds the organization harmless and forfeits the signing party's right to sue if he is harmed.
A release of liability form must include the name of the organization or individual sponsoring the event or activity. The form also must name the participant and indicate that the signing party assumes all risks while taking part in the event. In addition, the form must include a statement that releases the organization from any liability claims that may result from the event. In order for a release of liability form to be valid, it must be dated and signed.
Release of liability forms are found in employment, insurance and real estate contracts as well as in many business agreements. They are often required when participating in sporting events or activities. Release forms are used by television stations that broadcast information about featured individuals as well as in medical situations where consumers participate in clinical studies.