Mutual Release by Two Persons

This deed of release is made on the……………day of…………..between AB of, etc., of the one part, and CD of, etc., of the other part.
Whereas the said AB and CD were lately carrying on the business under the name and style of, X &Co. in course of which several sums of money fell due mutually against each other as will appear from the books of account of the said business maintained by the said CD and whereas the said business has been closed with effect from the………day of 2005.
        And whereas in consideration of the services rendered by the parties hereto to each other for development of the business and with a view to maintaining good feelings and relationship between them the parties have agreed to write off all such amounts and to execute a mutual release: now this deed witnesses that in pursuance of the said agreement, and for the consideration as aforesaid the said AB does hereby release, discharge and exonerate the said CD, and also that the said CD does hereby release, discharge and exonerate the said AB from all sums of money, accounts, proceedings, claims and demands whatsoever which either of them had or has or may have in future against the other, in respect of or in relation to, the said business which will be deemed as written off and the parties relieved from all liabilities on account therefor to all intents and purposes.

In witness whereof etc.
Signed, sealed and delivered                                         AB
                                                                                       CD