A waiver of contract occurs when a party to a contract waives or gives up one or more rights or benefits it has under the terms of the contract. A party generally does not waive its rights unless the waiver is made voluntarily and with knowledge of the rights being waived—known as a “knowing and voluntary relinquishment of rights.”

Contracts often include a non-waiver paragraph or provision stating that a party’s (or the parties’) failure to pursue or exercise certain rights under the contract does not constitute a waiver of those or other rights under the contract. Such non-waiver provisions are common in insurance contracts and other commercial contracts.

In Nevada, a waiver of contract rights occurs when a party intentionally relinquishes a known right or conducts itself in a manner that is inconsistent with the right's enforcement. Under Nevada law, waivers must be made knowingly and voluntarily to be effective. This means that the party waiving the right must have full knowledge of the right and the intention to relinquish it. Non-waiver clauses are commonly included in contracts to clarify that the failure to enforce a right does not imply that the right is waived. These clauses help to protect parties from inadvertently losing their rights due to inaction or oversight. Nevada courts generally enforce non-waiver provisions, but the specific circumstances of each case, such as evidence of a party's intent and actions, can affect the interpretation and application of these provisions.