Detriment

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Detriment

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.