Waiver: Difference between revisions

From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson
m (Spacing 14/8/13)
imported>Doug Williamson
(Align with qualifications material.)
Line 1: Line 1:
The voluntary and intentional surrender of a known right or claim.   
The voluntary and intentional surrender of a known right or claim.   


Often applies to loan agreements when a minor covenant breach has occurred and, potentially, a default might result.
In a borrowing context, it means the lender agrees to forgive a minor breach of covenant.





Revision as of 11:00, 31 July 2015

The voluntary and intentional surrender of a known right or claim.

In a borrowing context, it means the lender agrees to forgive a minor breach of covenant.


See also