waiver

from The American Heritage® Dictionary of the English Language, 5th Edition.

• noun Intentional relinquishment of a right, claim, or privilege.
• noun The document that evidences such relinquishment.
• noun A dispensation, as from a rule or penalty.
• noun Permission for a professional athletic club to assign a player to the minor leagues or release a player from the club, granted only after all other clubs have been given the opportunity to claim the player and have not done so.
• noun A deferment.
• transitive verb To provide with a waiver or issue a waiver for.
• idiom (clear waivers) To be unclaimed by another professional club and therefore liable to be assigned to a minor-league club or released.
• idiom (on waivers) In a state of being available for claiming by other professional clubs.

from The Century Dictionary.

• noun In law:
• noun The act of waiving; the intentional relinquishment of a known right; the passing by or declining to accept a thing.
• noun In old English law, the legal process by which a woman was waived, or put out of the protection of the law.

from the GNU version of the Collaborative International Dictionary of English.

• noun (Law) The act of waiving, or not insisting on, some right, claim, or privilege.

from Wiktionary, Creative Commons Attribution/Share-Alike License.

• noun The act of waiving, or not insisting on, some right, claim, or privilege.
• noun law A legal document releasing some requirement, such as waiving a right (giving it up) or a waiver of liability (agreeing to hold someone blameless). Also used for such a form even before it is filled out and signed.
• noun Something that releases a person from a requirement.
• verb Common misspelling of waver.
• verb See waive.

from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.

• noun a formal written statement of relinquishment