In which situation would a waiver most likely be used?

A waiver is a deliberate relinquishment of a known right, which typically comes into play when one party decides to overlook certain obligations or violations of a contract. In the context of this scenario, a waiver is most commonly utilized when a party chooses to ignore a contract breach. This means that even though one party did not adhere to the terms laid out in the agreement, the other party decides not to enforce the consequences that would normally accompany such a breach.

This is a crucial aspect of contract law as it reflects the flexibility that parties can have in managing their agreements. For example, if a contractor fails to meet a deadline but the client decides to continue the project without invoking penalties, they are effectively waiving their right to that penalty.

In contrast, the other situations involve processes that typically would not rely on a waiver. Amending a contract requires mutual agreement on new terms, while formally ending a contract involves more structured legal steps. Negotiating new terms is also about reaching a new agreement rather than relinquishing rights related to previous performance. Therefore, the usage of a waiver aligns closely with the decision to overlook a breach of contract.