Legal Definitions - detriment

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.