waive
To waive is to voluntarily relinquish or give up a right , claim , or privilege . It can apply to a variety of legal situations, such as knowingly giving up a legal right like a speedy trial or a jury trial , forgoing certain rights in a settlement talk, or not enforcing a term of a contract . Waiving a right can remove real or potential liability for another party in the contract. This can be done either in written form or through some form of action . For example, if you waive a fee , you decide not to charge it, even though you have the right to do so.
[Last reviewed in December of 2024 by the Wex Definitions Team ]
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