Waive Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Waive, written in plain English, along with examples of how it is used.
What is Waive?
(v) Waive is the voluntary act of relinquishing any right. Any intentional act of doing or not doing some thing to enforce his right, title, authority, hold or control otherwise can be considered as waive. For example settling the dues by accepting principal amount and waive the interest due on it.
History and Meaning of Waive
The term "waive" derives from the Old French term "waif", meaning "abandoned" or "ownerless property". Initially, it was used in the context of property law. In the present day, waive has a broad legal meaning, and it can be applied in several contexts, including contract law.
Waiving can be achieved through an express statement, such as a written agreement, or by an implied act, such as accepting payment after a term's due date.
Examples of Waive
- An insurance company may waive the right to recover damages from the insured party when the claim made falls below a particular threshold.
- A landlord may forgive a late rental payment fee as an act of waiver.
- An employee may receive a contractual right to waive his/her employer's liability in case of an accident.
Legal Terms Similar to Waive
- Release: The act of giving up or abandoning a right, often in exchange for consideration or waiver of a claim.
- Disclaimer: A statement that disclaims legal responsibility for the consequences of a particular action, often written in terms of contract law.
- Forfeit: When a person agrees to give up something, such as a right, they otherwise would possess, often because they failed to adhere to the provisions.