Liability?

Today I had to ponder an interesting question: Is it capable for somebody to approve something (an act that would assume liability) contingent on the fact that liability is removed from them? Isn't this essentially "you can do it if it doesn't come back to bite me in the butt?"

Here are some more details. To insure ethical behavior and that a proper image is presented an organization I am a part of requires all members to submitt what they will be doing for certain activities. We were presented with an activity that we believed to carry a high degree of liability.

After reading the waiver (which I believe to be solid, but I still lack advanced training) I informed them that we would approve it "contingent on the fact that we were completely absolved from liability." Is this possible? It failure to completely deny the request consent? I am still not sure, this is why I need law school.

On a side note, why did I sign up for this stuff? I just angered LOTS of people tonight and had to listen to 20 minutes of complaining from some student about something that doesn't even relate to him.