What is a Waiver?
A waiver, in law, the surrender of a known right or an excuse for nonperformance. The term "waiver" is used with different meanings and must therefore be related to particular situations. An agreement for consideration made in substitution for a previous obligation or a choice of one right which causes the loss of others is sometimes called a waiver. More often waiver refers to a promise or permission excusing some condition of a duty to render performance or an obligation due presently or in the future or relinquishing a legal defense. Action in reliance often supports the promise. Generally, a waiver must be intentional or voluntary, and a knowledge of the facts necessary to effectuate a waiver is required. Conduct evidencing an intention to waive may be sufficient to work a relinquishment of a right or advantage.