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Deed Of Mutual Release

Deed Of Mutual Release Template for Malaysia

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Key Requirements PROMPT example:

Deed Of Mutual Release

"I need a Deed of Mutual Release for dissolving a manufacturing joint venture between ABC Manufacturing Sdn Bhd and XYZ Industries Sdn Bhd, including the return of intellectual property and confidentiality provisions, to be effective from March 1, 2025."

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Document background
The Deed of Mutual Release is a crucial legal instrument in Malaysian business and commercial practice, commonly used when parties wish to formally end their legal relationships and prevent future claims arising from past dealings. It is particularly valuable in situations involving settlement of disputes, termination of business relationships, or conclusion of complex transactions. The document must comply with Malaysian legal requirements, including the Contracts Act 1950 and Stamp Act 1949, and requires careful drafting to ensure all potential claims are properly addressed. This deed type is especially relevant in commercial settlements, employment separations, shareholder disputes, and joint venture dissolutions, providing a comprehensive mechanism for parties to achieve a clean break while maintaining legal certainty.
Suggested Sections

1. Parties: Identifies and defines all parties to the deed, including their full legal names, addresses, and any corporate details

2. Background/Recitals: Sets out the context and history of the relationship between the parties, including any disputes or agreements being released

3. Definitions and Interpretation: Defines key terms used in the deed and establishes interpretation rules

4. Mutual Release: Core provision detailing the mutual releases between parties, including scope of claims being released

5. Acknowledgments: Statements acknowledging receipt of consideration and understanding of the release

6. No Admission of Liability: Statement that the release does not constitute admission of liability by any party

7. Warranties and Representations: Warranties about authority to enter into the deed and understanding of its effects

8. Further Assurance: Obligation to execute further documents if necessary to give effect to the release

9. Governing Law and Jurisdiction: Specifies Malaysian law as governing law and jurisdiction for disputes

10. Execution: Formal execution blocks for all parties, including witness requirements

Optional Sections

1. Confidentiality: Include when parties wish to keep the terms of the release and/or the underlying dispute confidential

2. Return of Property: Include when there is physical or intellectual property to be returned between parties

3. Non-Disparagement: Include when parties agree not to make negative statements about each other

4. Specific Exclusions: Include when certain claims or rights are specifically excluded from the release

5. Insurance and Indemnity: Include when there are ongoing insurance or indemnity arrangements that need to be addressed

6. Tax Provisions: Include when there are tax implications that need to be specifically addressed

7. Surviving Obligations: Include when certain obligations from previous agreements should survive the release

Suggested Schedules

1. Schedule 1 - Related Agreements: List of all agreements being released or affected by the deed

2. Schedule 2 - Released Claims: Detailed description of specific claims being released, if any

3. Schedule 3 - Payment Details: Details of any settlement payments or financial arrangements, if applicable

4. Appendix A - Powers of Attorney: Copies of powers of attorney if any party is signing through an attorney

5. Appendix B - Corporate Authorizations: Corporate resolutions or authorizations for company signatories

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Financial Services

Construction

Manufacturing

Real Estate

Technology

Professional Services

Healthcare

Retail

Energy

Transportation

Education

Telecommunications

Mining and Resources

Agriculture

Relevant Teams

Legal

Human Resources

Finance

Compliance

Risk Management

Corporate Secretariat

Executive Management

Operations

Business Development

Project Management

Relevant Roles

Legal Counsel

Corporate Secretary

Chief Executive Officer

Chief Financial Officer

Managing Director

Human Resources Director

Risk Manager

Compliance Officer

Business Development Manager

Contract Manager

Project Manager

Operations Director

General Manager

Company Director

Settlement Officer

Industries
Contracts Act 1950: The primary legislation governing contract formation, validity, and enforcement in Malaysia. It sets out requirements for valid contracts and agreements.
Powers of Attorney Act 1949: Contains provisions regarding the execution of deeds and documents under seal in Malaysia, including requirements for valid execution.
Stamp Act 1949: Governs the stamping requirements for documents in Malaysia. Deeds must be properly stamped to be admissible as evidence in court.
Civil Law Act 1956: Contains provisions relating to civil law matters, including the application of English common law principles regarding releases and settlements.
Limitation Act 1953: Sets out time limits for bringing legal claims, which is relevant when drafting release clauses to ensure they cover time-barred claims.
Digital Signature Act 1997: Relevant if the deed is to be executed electronically, providing legal framework for digital signatures in Malaysia.
National Language Acts 1963/67: Relevant for language requirements in legal documents, particularly if the deed needs to be bilingual or requires official translation.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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