Loss Of Bargain Legal Meaning and Definition

Here is a simplified definition of the legal term Loss Of Bargain.

Loss of Bargain (noun): Refers to a situation when a person or business cannot fulfill an activity or action due to another party's failure to perform their duties or meet the terms of a contract. For instance, a product might not be delivered because a subcontractor did not supply the necessary raw materials. This results in 'loss of bargain' for the person or company who was supposed to receive the product.