Other Free Encyclopedias » Law Library - American Law and Legal Information » Free Legal Encyclopedia: Deed of covenant to Direct Tax

Detriment

legal contract doing

Any loss or harm to a person or property; relinquishment of a legal right, benefit, or something of value.

Detriment is most frequently applied to contract formation, since it is an essential element of consideration, which is a prerequisite of a legally enforceable contract. To incur detriment means to cement a promise by either refraining from doing something that one has a legal right to do or by doing something that one is not under any legal obligation to do.

[back] Detinue

User Comments

Your email address will be altered so spam harvesting bots can't read it easily.
Hide my email completely instead?

Cancel or