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.
We waive the fees for the Hollywood Bowl and all the revenue goes to the county.
612, 1979), the court considered whether the taxpayer intended to waive the right of privilege and the precautions taken to prevent disclosure.
com will, for a period of 14 days from the commencement of military conflict or the announcement of "code red" security status, waive its change and cancellation fees for reservations made prior to such announcement.
The Los Angeles City Council waives millions of dollars each year for providing traffic, security and other services for special events, from neighborhood block parties to star-studded awards shows.
It says: "If [a notice of termination under the "conditional limitation" clause] shall have been given, and the term shall expire as aforesaid; or if Tenant shall make default in the payment of the rent reserved herein or any item of additional rent herein mentioned or any part of either or in making any other payment herein required, then and in any of such events Owner may without notice, reenter the demised premises either by force or otherwise, and dispossess Tenant by summary proceedings or otherwise, and the legal representatives of Tenant or other occupant of demised premises and remove their effects and hold the premises as if this lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end.