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.
It also said she agreed to consent, in writing, to waive her rights to his retirement assets at any time.
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.
The AICPA rules do not require written evidence of a client's consent to waive a conflict; however, Circular 230 requires written consent to waive a conflict.
Although he does not personally believe AU 9326 broke the treaty, Keller says some auditors have not interpreted the new rules correctly by insisting that clients waive privilege when alternative documentation should suffice.
Even if Madison waived timely payment under the lease, it did not waive full payment under the guaranty.
The constitutional right to a jury trial deserves solid protection, however, people should have the right to make an informed agreement to waive a jury.
32) Once advised, the suspect may waive those rights afforded by Miranda, provided that the waiver is made voluntarily, knowingly, and intelligently.
A hardship exception enacted in 1991 (IRC section 408(d)(3)(I)) allows the IRS to waive the 60-day rollover period if failing to do so would be against equity or good conscience, as in cases of casualty, disaster or other events beyond a taxpayer's reasonable control.
On appeal and now represented by counsel, the defendant's attorneys asserted he was incompetent to waive both of these rights.
Approved a resolution to waive the AICPA's continuing professional education membership requirement in certain circumstances (see "CPE Requirement Changed for Certain Member Groups").