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Rights may be waived, unless the waiver is contrary to law, publicorder, public
policy, morals, or good customs, or prejudicial to a third personwith a right
recognized by law.
There is no form required for a waiver since a waiver is optional. You can waive bymere inaction,
refusing to collect a debt for example is a form of waiver.
General Rule:
Rights can be waived.
Exceptions:
1.
If waiver is contrary to law, public order, public policy, morals or good customs2.
If the waiver would be prejudicial to a 3
rd
party with a right recognized by law.(
e.g.,
If A owes B P10M, B cant waive the loan if B owes C and B has no other
assets.)