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Legal release. A legal release is a legal instrument that acts to terminate any legal liability between the releasor and the releasee (s), signed by the releasor. A release may also be made orally in some circumstances. Releases are routinely used by photographers, in film production, by documentary filmmakers, or by radio and music producers ...
Liability waiver. A liability waiver is a legal document that a person who participates in an activity may sign to acknowledge the risks involved in their participation. By doing so, the company attempts to remove legal liability from the business or person responsible for the activity.
Model release. A model release, known in similar contexts as a liability waiver, is a legal release typically signed by the subject of a photograph granting permission to publish the photograph in one form or another. The legal rights of the signatories in reference to the material are thereafter subject to the allowances and restrictions ...
Waiver. A waiver is the voluntary relinquishment or surrender of some known right or privilege . Regulatory agencies of state departments or the federal government may issue waivers to exempt companies from certain regulations. For example, a United States law restricted the size of banks, but when banks exceeded these sizes, they obtained waivers.
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In financial accounting under International Financial Reporting Standards (IFRS), a provision is an account that records a present liability of an entity. The recording of the liability in the entity's balance sheet is matched to an appropriate expense account on the entity's income statement. In U.S. Generally Accepted Accounting Principles (U ...
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