General Mutual Release
''A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor.''
The above statement is from Section 1542 of the Civil Code of the State of California and I would like to find out if a similar law exists in Louisiana, so that I can add a specific waiver for that law to a settlement contract. If you happen to know the Section to look up that would be very helpful. Thank you.
1 Answer from Attorneys
I don't know of any specific statute or code article that states that in Louisiana. However, contract law would allow you to place a clause stating that in your release. You just leave out the reference to the statute and put in the language you want. So long as the language isn't against public policy, you can put it in regardless of whether there is any statute that states it.