WAIVER OF CLAIMS AND DEFENSES

WAIVER OF CLAIMS AND DEFENSES

waiver of claims and defenses.

1. The intentional relinquishment by a maker, drawer, or other obligor under a contract of the right to assert against the assignee any claims or defenses the obligor has against the assignor. [Cases: Assignments 103; Bills and Notes 314; Secured Transactions 185. C.J.S. Assignments ¡ì 100; Bills and Notes; Letters of Credit ¡ì¡ì 166¨C168; Secured Transactions¡ì 139.]

2. The contractual clause providing for such a waiver.


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Carl, Chinese legal translator, specializes in translating legal documents pertaining to complex business disputes.