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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. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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