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In this episode of Minute Law with Maria Spear Ollis, part of the What's in My Contract series, the focus is on waiver clauses in contracts. A typical waiver clause states that waiving a right on one occasion does not mean that right is permanently waived for future instances. For example, if a contract allows a business to charge a late fee and the client normally pays on time but fails to pay once, the business may choose not to enforce the late fee that month. However, the waiver clause protects the business's right to enforce the late fee in the future, indicating that previous leniency does not set a precedent for subsequent late payments.
