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Waiver: Difference between revisions
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{{a|boilerplate|{{image|Wafer|png|Don’t worry about it mate.}}}}{{d|Waiver|/ˈweɪvə/|n|}}A topic that can give a [[common law]]yer hives and an under-confident [[credit officer]] an decent psychiatric episode: so much so that it once led to a [[no waiver]] clause, and [[legal eagle]]s and [[credit officer]]s liked it so much it | {{a|boilerplate|{{image|Wafer|png|Don’t worry about it mate.}}}}{{d|Waiver|/ˈweɪvə/|n|}}A topic that can give a [[common law]]yer hives and an under-confident [[credit officer]] an decent psychiatric episode: so much so that it once led to someone creating a pioneering “[[no waiver]]” clause, and [[legal eagle]]s and [[credit officer]]s liked it so much they hasve kept it ever since. | ||
These days, [[no waiver]] clauses are so deeply woven into the [[Boilerplate|legal furniture]] of commerce that we barely pause to regard them. We even see them in [[NDA]]s, for heaven’s sake. | |||
===Disclaimer versus waiver=== | |||
Sometimes [[disclaimer]]s are described as [[waiver]]s. Strictly speaking, different things. A “disclaimer” is a binding — we hope — contractual agreement limiting one’s liability for a given outcome. A “waiver” is a representation, unsupported by consideration, that one will not insist upon one’s existing contractual rights. | |||
===What is waived can never die. Can it?=== | |||
{{Waiver capsule}} | {{Waiver capsule}} | ||
{{waiver chains}} | {{waiver chains}} | ||
===Contracting out=== | |||
You can of course contract out of waivers. The rent review process in a standard commercial lease is a good example of when this happens. [[Time is of the essence|Time is deemed ''not'' of the essence]]: if the review is delayed, the landlord is entitled to back-date it, and charge accrued interest, it to when it was entitled to conduct rent review (though it will generally be held to an objectively-determined market rental for the period). We discuss this in a little more detail [[Time is of the essence#Time being not of the essence and rent review|here]]. | |||
{{waiver}} | {{waiver}} | ||
*[[I never said it was]] | *[[I never said it was]] | ||
{{ | {{ref}} | ||