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 ?
113) Therefore, since voluntary assumption of risk cannot explain why a defendant in the position of the employees in London Drugs is to be protected, it is not an adequate or full explanation of the principled exception.
While voluntary assumption of risk is not particularly successful in explaining the principled exception, the argument of this article is that those who espoused it were on the right track in looking for an extracontractual justification for this privity "exception".
Likewise, it also appears that theories of subrogation and voluntary assumption of risk are incapable of rationalizing the limits imposed by Justice Iacobucci on the exception.
112) Of course, one might argue that voluntary assumption of risk should be modified to allow for its use in situations similar to London Drugs, supra note 1.
A waiver, where applicable, is a contractual defence in that it supplies evidence of the voluntary assumption of risk.
While some would maintain that inherently dangerous pursuits imply, by their nature, a voluntary assumption of risk on the part of the participants, the courts have been slow to accept that premise.
The written waiver should be seen as the practical legal minimum for proof of the participant's voluntary assumption of risk.
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