A covenant not to sue prohibits future claims, but the party who signs the document is still free to sue if the other party violates the covenant.
The Correct Answer is Option b. Received.
What is a Covenant Not To Sue?
- An agreement called a "covenant not to sue" forbids one or more parties from bringing legal action against the other.
- For instance, buyers frequently request covenants not to sue from sellers in the world of mergers and acquisitions.
- Both parties typically gain from signing the contract because it helps to avoid pricey and drawn-out litigation in the event of a botched merger or acquisition.
- A covenant not to sue prohibits future claims, but the party that signs the instrument is still free to sue if the other party violates the covenant. A party or parties are vulnerable to any claim or lawsuit if they don't sign a covenant not to sue.
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