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 ?
Supreme Court decision holds that an ex-spouse can't waive her interest in a former spouse's ERISA-governed pension plan through the divorce decree alone Thus, former spouses must change the beneficiary designation or risk inadvertently enriching their former partners.
The court focused on the generality of the architect's contractual mandate in making the rather tenuous argument that the architect could not bind the owner where there was no contractual provision that specifically granted the architect the authority to waive a violation of the general contract on behalf of the owner.
Invesco (800-525-8085) waives its minimum initial investment requirement through the EasiVest plan.
The company will waive the secondary order charge for displaced hurricane victims who wish to order Call Forwarding or MemoryCall.
612, 1979), the court considered whether the taxpayer intended to waive the right of privilege and the precautions taken to prevent disclosure.
It's out of control,'' said City Councilman Dennis Zine, noting that the city lacks a coherent fee structure and policy on what it waives and how much it actually costs the city to provide services.
Finally, to provide that, if the lease has already expired by its terms or by conditional limitation, then tenant waives any right to re-possession and agrees that its sole and complete remedy shall be such damages as are allowed by RPAPL [section] 853.
Councilman Nate Holden cautioned his colleagues against developing too stringent a policy, noting that the city waives fees for a number of events, including last week's Golden Globes ceremony and the upcoming Academy Awards.
If an actual bill covers more than a year because there was no earlier reading, the board now waives interest for six months to give owners more time to pay.
Whenever the city waives a fee, it is in effect making a donation to the sponsoring group,'' Weiss said.