loan

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loan

a transaction whereby property is lent or given to another on condition of return or, where the loan is of money, repayment. During the period of the loan the borrower is entitled to use the thing loaned for the purpose agreed between the parties. In a loan of money, the money lent becomes the property of the borrower during the period of the loan against an undertaking to return a sum of equivalent amount either on demand or on a specified date or in accordance with an agreed schedule of repayments.

LOAN, contracts. The act by which a person lets another have a thing to be used by him gratuitously, and which is to be returned, either in specie or in kind, agreeably to the terms of the contract. The thing which is thus transferred is also called a loan. 1 Bouv. Inst. n. 1077.
     2. A loan in general implies that a thing is lent without reward; but, in some cases, a loan may be for a reward; as, the loan of money. 7 Pet. R. 109.
     3. In order to make a contract usurious, there must be a loan; Cowp. 112, 770; 1 Ves. jr. 527; 2 Bl. R. 859; 3 Wils. 390 and the borrower must be bound to return the money at all events. 2 Scho. & Lef. 470. The purchase of a bond or note is not a loan ; 3 Scho. & Lef. 469; 9 Pet. R 103; but if such a purchase be merely colorable, it will be considered as a loan. 2 John. Cas. 60; Id. 66; 12 S. & R. 46; 15 John. R. 44.

References in periodicals archive ?
Wednesday to participate in a nationwide, student-led 17-minute protest against gun violence, Christian Loar remained inside.
Insurance office representatives have been walking the grounds of University Village and encouraging residents to voice negative opinions, Loar writes.
Loar realized he was onto something when he was able to buy a collectible car from an Illinois seller from the comfort of a Friday night poker game.
In Loar's account the fraught consequences of applying the politics of gunpowder in a domestic as well as a colonial context are most evident in the writings of Jonathan Swift (the subject of the book's fourth chapter), whose meditations on colonialism and imperialism investigate "the place of violence in political modernity more generally" (143).
"I will say, since we don't have any specialists in that area, it wasn't as difficult for us [to sell]," Loar said.
"We sort of just skipped that in rehearsal, and then we were worried about how it would play," Loar says, about forcing-audiences to sit quietly for so long in the dark.
(Othello), Sarah Fallon (Desdemona), James Keegan (Iago), Celia Madeoy (Emilia), Jake Hart (Cassio), Paul Fidalgo (Roderigo), Susan Heyward (Bianca, Clown), David Loar (Brabantio, Lodovico), Alvaro Mendoza (Duke, Gratiano), John Harrell (Montano, Senator), and Matthew Sincell (Senator).
Rafael Echenique of Argentina, Kane Webber of Australia and American Edward Loar are tied for third place on four under.
68 - Rafael Echenique (Arg), Kane Webber (US), Edward Loar (US).
* MATTHEW LOAR (Silicon Valley Chapter) was appointed CFO of Osteologix, a San Francisco-based developer of products for the treatment of important medical needs in bone disease and women's health.
Harrington carded a final round of 68 at the Old Course for a five-shot victory over Anthony Wall, American Edward Loar and overnight leader Bradley Dredge.
Former American Walker Cup player Edward Loar held third place on nine under with Ernie Els and Vijay Singh a shot further back.