A waiver is where one party leads the other to reasonably believe that strict performance will not be insisted upon.

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A waiver is indeed where one party leads the other to reasonably believe that strict performance will not be insisted upon. This means that the party waiving their right to strict performance is effectively giving up their ability to enforce the terms of the agreement as written, and is allowing the other party some leeway or latitude in how they carry out their obligations under the contract. This can be done explicitly or implicitly, and may be subject to certain conditions or limitations. However, once a waiver has been granted, it can be difficult to revoke, and may be binding on both parties.

A Waiver Is Where One Party Leads the Other to Reasonably