Document background
The Release And Hold Harmless Agreement is a crucial risk management tool in Nigerian business and personal transactions. It is commonly used when parties need to allocate risk and establish clear liability boundaries in situations such as property usage, service provision, or accident settlement. Under Nigerian law, these agreements must comply with the Contract Act and relevant civil liability statutes, ensuring proper consideration and clear expression of parties' intentions. The document typically includes specific details about the activities or claims being released, consideration provided, and indemnification terms. It's particularly valuable in situations where there's a need to prevent future litigation while providing legal protection for the released party. The agreement must be carefully drafted to ensure enforceability within the Nigerian legal system while protecting the legitimate interests of all parties involved.
