Check out the "Morality and Weapons" thread for some insights into people's attitudes. As for the legalities, I can tell you that no waiver will ever hold up in court. They project that image and some instructors insist that their waivers are bulletproof, but no one can sign a contract that violates their rights - including the right to pursue you in court over cases of irresponsibility and/or neglect. And it's not terribly difficult to show that someone teaching people how to injure and kill others with a knife is being neglectful or irresponsible - especially in the eyes of an uneducated jury.
Just be careful.
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