Under MBE release requirements, what is required?

• A. In writing and supported by new consideration OR promissory estoppel
• B. In writing only
• C. No writing required
• D. Must be notarized

Answer: (A)

The key idea is that a release of a claim is a contract and must meet contract-formality rules. Under the Statute of Frauds, a release that settles a claim generally has to be in writing and signed. But enforceability also requires consideration for the new promise to release to count as a binding contract—unless another theory, like promissory estoppel, applies to support reliance on the promise.

So the best answer is that the release must be in writing and supported by new consideration, or by promissory estoppel. Notarization isn’t required, and a purely oral release lacking consideration typically isn’t enforceable.