Definition - What does Waive mean?
To waive is to give up or surrender a known right or interest deliberately. People who waive rights or interests do so with the full knowledge that once they give up the right or interest, they no longer have it.
There are a wide variety of circumstances in which a person may waive a right or interest.
Justipedia explains Waive
Two areas of law where rights or interests are commonly waived are in property law and in liability law.
In property law, people often waive their rights to inherit certain property that they do not want. For example, a woman may waive the right to inherit her grandmother's book collection and instead let the books go to charity.
In liability law, it is common for people to waive the right to hold a certain party liable in order to perform a dangerous task. For example, a person may have to sign a waiver that prohibits him or her from suing a bungee jumping company if he or she would like to use the company's services to go bungee jumping.