CANCELLATION OF AN AGREEMENT
THIS AGREEMENT is made this the ______ day of ____________,
BETWEEN The ____________________ Company, a partnership firm duly registered under the Indian Partnership Act, 1932, with its office at ____________________ (hereinafter called the "Principal") of the one part;
AND Shri ____________________, aged about ______ years, son of Shri ____________________, resident of ____________________________________ (hereinafter called the "Agent") of the other part.
WHEREAS by an agreement dated ____________, the Principal herein had granted to the Agent herein exclusive rights to exploit, advertise and sell, or cause to be sold, the manufactured oil products of the Principal on commission basis;
AND WHEREAS for some unavoidable reasons the Agent is unable to do the work under the said agreement, and is willing to be released from his obligations under the said Agreement, provided the Principal refunds the advance of Rs. ____________ deposited by the Agent with the Principal under stamped receipt dated ____________.
NOW THESE PRESENTS WITNESS as under:
1. That in consideration of the refund of the said advance of Rs. ____________ in full, the parties hereby agree to mutually release and relinquish their respective rights and obligations under the Agreement dated ____________ entered into by the parties hereto.
2. That pursuant to the Agreement herein, the parties hereto declare and agree that the Agreement dated ____________ between them is hereby cancelled and rescinded, and that no party shall be under any obligation thereunder.
IN WITNESS WHEREOF, the said ____________________ Company, acting through its partner Shri ____________________, and the Agent, the said Shri ____________________, have hereunto signed at ____________ the day and the year first above-written.
Sd. ________________________
For ____________________ Company
Partner (Principal)
Sd. ________________________
Agent
WITNESSES:
1. ________________________
2. ________________________
Note: This is a document of release and must be stamped as such.
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