GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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04:19 Mar 5, 2019 |
Spanish to English translations [PRO] Law/Patents - Law: Contract(s) / Funds | |||||||
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| Selected response from: Robert Carter Mexico Local time: 03:20 | ||||||
Grading comment
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Summary of answers provided | ||||
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4 +3 | No Waiver |
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3 | exemption from obligations |
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No Waiver Explanation: A fairly standard type fo clause in many contracts designed so that the parties will not be seen to be giving up (waiving) their rights under the contract if they fail to enforce them at any point or for any reason. A “no waiver” clause simply provides that any failure, omission, or delay on the part of the non-breaching party to exercise a contractual right does not constitute a waiver of that right. https://sterlingmiller2014.wordpress.com/2018/03/15/ten-thin... The Waiver, No Waiver, or Waiver and Extension clause aims to ensure that a party's failure to enforce its contractual rights, whether intentionally or by oversight, does not result in a waiver of those rights or remedies for their breach. https://www.contractstandards.com/public/clauses/waiver The purpose of a "no waiver" clause is to try to ensure that a party to the contract does not accidentally or informally waive its rights to bring proceedings and recover damages etc under the contract in the event of a breach of the contract by the other party. https://www.contractology.com/no-waiver-clause.html |
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