What is the term for voluntarily taking upon oneself a known risk?

The term for voluntarily taking upon oneself a known risk is known as "Assumption of Risk." This legal doctrine applies when an individual knowingly engages in an activity that carries certain risks, thereby accepting the potential consequences associated with those risks. For example, if someone decides to participate in a contact sport, they recognize that injuries are a possibility and are assuming that risk by participating.

Understanding this concept is crucial in personal injury law, as it may serve as a defense for defendants in negligence cases. If a plaintiff can be shown to have assumed the risk, it may limit or eliminate the liability of the defendant.

The other terms listed are related to legal concepts but do not directly pertain to the voluntary acceptance of known risks. Negligence refers to failing to take reasonable care which leads to harm, a liability waiver is a document that releases one party from liability in the event of a lawsuit, and comparative fault is a principle where the fault is divided among the parties involved in an incident. These concepts focus more on responsibility and the legal implications of actions rather than the acceptance of risk itself.