Common use of Waiver of Section 1542 Clause in Contracts

Waiver of Section 1542. Except as provided in this Agreement, it is both parties’ intention in signing this Agreement that it should be effective as a bar to each and every claim, demand and cause of action stated above. In furtherance of this intention, each party hereby expressly waives any and all rights and benefits conferred upon it by the provisions of Section 1542 of the California Civil Code or any similar law in any other jurisdiction. Section 1542 provides: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.”

Waiver of Section 1542. Except as provided in this Agreement, it is both parties’ ' intention in signing this Agreement that it should be effective as a bar to each and every claim, demand and cause of action stated above. In furtherance of this intention, each party hereby expressly waives any and all rights and benefits conferred upon it by the provisions of Section 1542 of the California Civil Code or any similar law in any other jurisdiction. Section 1542 provides: “"A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.”"