Opinion ID: 780231
Heading Depth: 3
Heading Rank: 1

Heading: Jasper's Releases

Text: 13 Jasper's settlement with the Older Isleys' estate was set forth in two releases, one dated June 1991 and the other September 1991 (the Jasper Releases). Both Jasper Releases were signed by Jasper and his wife, and the first release was also signed by Jasper's counsel and the Bankruptcy Judge. The District Court found that the Jasper Releases followed aggressive arms length negotiation during which Jasper was represented by counsel. 14 The June 1991 release included the following provisions: 15 2.... Jasper acknowledges and agrees: (1) that T-Neck Records, Inc. shall continue to have all rights in and to recordings made by Jasper that have heretofore been recorded for release on the T-Neck Records, Inc. label and to receive all royalties relating thereto, without in any[]way limiting Jasper's rights to songwriters royalties retained herein.... 16 In the September 1991 release, Jasper agreed to release and give up any and all claims and rights, known or unknown, against the Older Isleys, Bovina, and T-Neck Records. In return, as the District Court found, Jasper received $175,000, but avoided responsibility for the millions of dollars in liabilities of the Older Isley's bankruptcy estate, including liabilities for which the Trustee contended Jasper was jointly liable. 17 In view of the unambiguous language of Jasper's releases, the District Court properly ruled that Jasper's claims against T-Neck for record royalties had been validly released.