(1) Negligence: An affirmative defense in a claim of negligence where the defendant argues that the plaintiff obviously knew of a significant risk of danger in advance and, as such, assumed liability for the risk. For example, a person going mountain climbing understands that there are significant risks of danger of a fall. (2) Contract: When a party purchases a right from another understanding that there is a risk involved (such as damage) but choosing to accept that risk where the result is that the item or property might be significantly damaged or ultimately worth less than the amount paid.