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The defense of voluntary assumption of risk applies when an individual knowingly subjects themselves to a situation that carries inherent risks. In the case of the Virgin Islands Waiver, Assumption of Risk and Release of Claims for Future Accidental Injuries or Death by Individual Applying to Rent a Bicycle, renters must accept the terms of the waiver, which highlights the risks associated with biking. This acceptance creates a legal barrier against liability for the rental company if an injury occurs.