Release and Waiver of Liability (Potentially Dangerous Activity)

by Practical Law Commercial Transactions

A release of liability (also known as a liability waiver or an exculpatory agreement) for use by a company providing a prospective participant with access to a potentially dangerous or hazardous activity. This Standard Document is intended to protect the company against liability for claims that may result from the participant engaging in the activity, including claims for personal injury or wrongful death arising from the company's ordinary negligence. It includes several key provisions, such as a waiver and release of potential claims, a covenant not to sue, an acknowledgment of voluntary participation, and an express assumption of risk. It also contains an optional indemnification clause for the participant to indemnify the company against third-party claims, as well as an optional consent to receive medical treatment. This resource also addresses important practical considerations, such as drafting to maximize enforceability and execution on behalf of minors. This Standard Document has integrated notes with important explanations and drafting tips.