Assumption of Risk


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Assumption of Risk

1. In law, an agreement by which one party takes on the risk of another party, often for some compensation.

2. In torts, a defense in a lawsuit in which the defendant argues that the plaintiff took a risky action after having been informed of risks in such a way that a reasonable person would understand such risks. This limits the defendant's liability in the lawsuit. However, some states limit the use of the assumption of risk defense.
References in periodicals archive ?
Assumption of risk is an affirmative defense in a tort action and constitutes a complete bar to recovery.
Assumption of risk is synonymous with contributory negligence.
Giving informed consent is tantamount to assumption of risk.
Known as assumption of risk, it constitutes a complete bar to recovery.
The Restatement of Torts defines assumption of risk to mean that the plaintiff fully understands the risk and nonetheless chooses voluntarily to take it ([section]496-C).