AngryMiniCar
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LSDefine
Simple English definitions for legal terms
detriment
Read a random definition: right to cancel (a contract)
A quick definition of detriment:
Term: DETRIMENT
Definition: Detriment means harm or loss that someone or something suffers. In legal terms, it can also refer to giving up a legal right that someone would have had otherwise. For example, if someone promises to pay a lot of money for a car that is worth less, it is still considered a detriment because they are giving up something of value. In contracts, it can also refer to something that someone offers to give up in exchange for something else.
A more thorough explanation:
Definition: Detriment refers to any loss or harm suffered by a person or property. In the context of contracts, it refers to the relinquishment of some legal right that a promisee would have otherwise been entitled to exercise. This is also known as legal detriment.
For example, if a person promises to pay £10,000 for a Rolls Royce worth £12,000, they are making a good bargain. However, this promise is still considered a detriment because they are giving up some of their legal rights. This promise is a good consideration for a promise to deliver the car.
In the context of contracts, a promisee may offer consideration to a promisor, especially in a unilateral contract. This consideration may involve a detriment to the promisee, such as giving up a legal right or suffering a loss.
Overall, detriment refers to any negative consequence or sacrifice that a person or property may experience, whether in a contractual or non-contractual context.
de transgressione, ad audiendum et terminandum | detrimental reliance