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

Question

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Waivers generally occur after a contracting party fails to perform. In this situation, nonperformance by one party may cause the other party to waiver its right to enforce the contract. The waiver typically is unilateral. The non breaching party grants the waiver. A landlord may waive the right to collect a late payment fee when the rent is only two days overdue.

Sheena Is a Week Late in Paying Her Rent