Shelly is a week late in paying her rent.She requests her landlord,Craig,not charge her the late payment fees,and Craig agrees.This is an example of a waiver.

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Waivers generally occur after a contracting party fails to perform. In this situation, nonperformance by Shelly causes Craig to waive his right to enforce the contract. The waiver typically is unilateral.

Shelly Is a Week Late in Paying Her Rent