Assumption of risk refers to a defense which forbids or reduces the damages a victim (plaintiff) can seek from the negligent wrongdoer (defendant) if the defending party can prove that the plaintiff knowingly and willingly assumed the risk of harm associated with the act that caused the plaintiff's injury.
Assumption or risk basically refers to knowingly taking a risk in a potentially dangerous situation. It is used as a defense in tort litigation by the party accused of being negligent (defendant) to bar or reduce the amount of damages a victim (plaintiff) can claim.
There are two types of assumption of risk: express and implied. Under express assumption of risk, the plaintiff and the defendant have an agreement, in advance of the injury, that the plaintiff is knowingly taking a risk and the defendant owes no duty to the plaintiff. Under implied assumption of risk, there is no agreement but a plaintiff's conduct demonstrates a voluntary assumption of risk.