waiver

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Waiver

A statement of the voluntary surrender of a right. For example, suppose a company provides customers a service that might be dangerous, such as bungee jumping. The company may require customers to sign a waiver relinquishing the right to sue the company for negligence if a problem occurs. This reduces the company's risk in the conduct of its business.

waiver

The voluntary relinquishment of a known right, remedy, claim, or privilege.
References in periodicals archive ?
If the relationship breaks down between the parties to a contract it is not unusual for a party waiving a right under that contract to decide it no longer wishes to waive it.
The association was one of 19 livestock and animal feed industry groups that had asked EPA to waive the renewable fuel requirement.
In Fox Valley & Vicinity Const Workers Pension Fund v Brown (4) (which originated in the northern district of Illinois), the court determined that La urine Brown was not entitled to her ex-husband James Brown's pension benefits because, in their divorce decree, Laurine waived her interest in James' pension through the following language: "The parties each waive any interest or claim in and to any retirement, pension, profit-sharing and/or annuity plans resulting from the employment of the other party.
He adds, "Waiver will continue to be a part of the culture of cooperation from time to time, but the difference is that it will not necessarily be universal, and companies will be in a position to decide when to waive and when not, what to waive and what other means of cooperation will be available.
32) Once advised, the suspect may waive those rights afforded by Miranda, provided that the waiver is made voluntarily, knowingly, and intelligently.
March 25 /PRNewswire/ -- AAA Michigan has announced it will waive exchange-transaction fees for customers who want to change air travel plans booked through AAA Travel, providing the air carrier on which the trip was booked is waiving its exchange-transaction fees.
Approved a resolution to waive the AICPA's continuing professional education membership requirement in certain circumstances (see "CPE Requirement Changed for Certain Member Groups").
Virtually all property insurance policies allow the insured to waive rights of recovery against others prior to a loss and many policies allow the insured, in some cases, to waive rights of recovery after a loss.
The appeals court dismissed the appeal, ruling that the Federal Death Penalty Act did not preclude an offender from waiving the right to appeal the death sentence and that the determination that the offender could waive the right to appeal did not violate the Eighth Amendment.
BLIMPIE INTERNATIONAL TO WAIVE INITIAL $18,000 FRANCHISE FEES FOR FIVE QUALIFIED ENTREPRENEURS IN DETROIT'S EMPOWERMENT ZONES.
Greene County Bancorp, MHC Announces Special Meeting of Members to Vote on Proposal to Waive Receipt of Dividend
8 billion Grand Avenue redevelopment ran into a hurdle Tuesday when Mayor Antonio Villaraigosa questioned a plan to waive taxes for the project.