Waiver
The voluntary relinquishment of a known right or the failure to enforce a contractual provision.
Waivers can be express (written) or implied (through conduct). Most contracts include 'no waiver' clauses stating that failing to enforce a provision once doesn't waive the right to enforce it later.
Without a no-waiver clause, consistently overlooking breaches could be interpreted as waiving the right to enforce that provision in the future.
Example
A landlord consistently accepts late rent payments without penalty. A court might find the landlord waived the right to enforce the late payment clause.
Related Terms
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