waiver
definition
the intentional relinquishment of a known right or privilege
example
After reviewing the contract, she signed the waiver of liability, understanding that she was giving up her right to sue in case of an accident.
synonyms
releaserelinquishmentsurrender
word origin — from Old French 'waiver', meaning 'to refrain from, to give up', which comes from Latin 'renuntiare', meaning 'to announce, deny, reject'