What is the name of your state (only U.S. law)? VA
I've been asked to sign a General Release document as part of receiving proceeds from the sell of private stock I own in the company.
The specific issue I have is there is a clause that reads that I
"state for myself and anyone claiming through and under him fully, unconditionally, and forever release and discharges the company.... from any and all causes of action whether known or unknown..."
My first question is does this preclude my spouse from considering any action should any cause of action arise in the future? Does it still apply if we become divorced? Can I actually sign a document that would basically prevent someone else from the ability to seek restitution?
My second question relates to whether or not it is normal to ask former employees selling stock to sign a general release of this nature?
Thank you!
I've been asked to sign a General Release document as part of receiving proceeds from the sell of private stock I own in the company.
The specific issue I have is there is a clause that reads that I
"state for myself and anyone claiming through and under him fully, unconditionally, and forever release and discharges the company.... from any and all causes of action whether known or unknown..."
My first question is does this preclude my spouse from considering any action should any cause of action arise in the future? Does it still apply if we become divorced? Can I actually sign a document that would basically prevent someone else from the ability to seek restitution?
My second question relates to whether or not it is normal to ask former employees selling stock to sign a general release of this nature?
Thank you!