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In this tutorial, Michelle explains the concept of a waiver. A waiver is a present relinquishment of a known right, meaning that to waive a claim, you must currently possess the right in question, not a future potential right. For a waiver to be valid, it must be knowingly given, requiring the individual to understand what they are waiving. This understanding should be clearly outlined in the document prior to signing. Waivers often appear in various documents, such as those related to banking or settlements. Ultimately, signing a waiver means you are voluntarily giving up an existing right.
