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Law Office of James D. Lynch, PLLC

3000 Joe Dimaggio Blvd #90, Round Rock, TX 78665

info@jimlynchlaw.com

(512) 745-6347

(714) 745-3875

©2020 by Law Office of James D. Lynch, PLLC. The information contained in this website is for informational purposes and is not to be considered legal advice.  Any correspondence between you and the Law Office of James D. Lynch is not intended to create an attorney-client relationship.  Please do not send confidential information to us until after an attorney-client relationship has been established by an engagement letter signed by the proposed client and our attorney.

  • James D. Lynch

Contract tip - Waiver

Waiver occurs when there is a condition in a contract that protects one of the parties and the protected party voluntarily gives up the protection of that condition.


For example, your friend offers to sell you their car for $1000 on the express condition that the car is “undamaged.” This condition is meant to protect you (the buyer) from buying a damaged car.


Assume further that when you see the car, you discover it has a large dent on the driver’s side. Since the “undamaged” condition has not been met, you do not need to go through with this contract.


However, if you still really want the car, you can choose to waive the condition and follow through with the contract, because the condition was meant to protect you.


It is a good idea to include a “waiver” clause in a contract, which states that a waiver of one condition is not to be construed as a waiver of all conditions. This will prevent the other party from trying to claim that you waived all of your protections just because you were nice enough to waive one.


If you need help in drafting or reviewing your contracts, please contact us and speak to one of our professionals.