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InterviewSolution
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Write Brief Notes On Release And Waiver? |
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Answer» A release is an express or tacit agreement that the debtor be freed from an obligation or obligations. It therefore has the effect that the debtor NEED not perform. The debtor may be released in WHOLE or in part. The term “waiver” is often used SYNONYMOUSLY with the concept of a release agreement. However, sometimes waiver is used to denote a UNILATERAL act of abandoning a right or remedy that EXISTS for the sole benefit of the party abandoning the right or remedy. A release is an express or tacit agreement that the debtor be freed from an obligation or obligations. It therefore has the effect that the debtor need not perform. The debtor may be released in whole or in part. The term “waiver” is often used synonymously with the concept of a release agreement. However, sometimes waiver is used to denote a unilateral act of abandoning a right or remedy that exists for the sole benefit of the party abandoning the right or remedy. |
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