Assumption of risk is a legal term that implies that you knew that there was a chance of injury or that you consented to it. Assumption of the risk is a defense that the defendant can use to avoid responsibility for their wrongdoing.By signing this Agreement, I understand that I am giving up substantial rights, including my right to sue and any right to sue on behalf of Minor. This form serves as a Release of Liability for any injuries or damages that result from a Tenant's use of a rental property.