An Agreement Between Two Litigants to Mutually Release Each Other

question 16

True/False

An agreement between two litigants to mutually release each other from any and all liability is not a valid agreement since no "consideration" is given to the other.

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Definitions:

Loyalty

A strong feeling of support or allegiance to a person, group, or cause.

Constructive Trust

A legal remedy imposed by a court to address unjust enrichment, where a person holding title to property is deemed to do so for the benefit of another.

Implied Trust

An implied trust is created by the law as a presumption based on the intentions or actions of the parties involved, rather than by an explicit agreement.

Express Trust

A trust explicitly created by a settlor, typically in writing, specifying the terms, beneficiaries, and trustees, as opposed to being created by implication or operation of law.