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A waiver and a release from obligations under a contract are closely related but distinct concepts. A waiver occurs when a party intentionally relinquishes their right to enforce the contract, typically after the other party has failed to perform their obligations. In contrast, a release is when one party is excused from fulfilling their contract obligations before any performance has begun. While both terms are often used interchangeably in legal documents, the key difference lies in the timing and context of their use—waivers relate to post-failure situations, while releases pertain to pre-performance scenarios.
