A Release from Liability Agreement is a contract between two or more parties which states that one party will not be held liable for any damages or losses incurred by the other party. This agreement is commonly used when someone loans money, services, or property to another and wants to ensure that if something goes wrong, they cannot be legally liable. Its purpose is to absolve any potential risks associated with the loaned items and protect all parties involved in case of an accident, negligence, or breach of contract. By signing this document, both parties are agreeing that no matter what happens, the lender will not be responsible for any losses incurred by the borrower.