lender

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LENDER, contracts. He from whom a thing is borrowed.
     2. The contract of loan confers rights, and imposes duties on the lender. 1. The lender has the right to revoke the loan at his mere pleasure; 9 Cowen, R. 687; 8 Johns. Rep. 432; 1 T. R. 480; 2 Campb. Rep. 464; and is deemed the owner or proprietor of the thing during the period of the loan; so that au action for a trespass or conversion will lie in favor of the lender against a stranger, who has obtained a wrongful possession, or has made a wrongful conversion of the thing loaned; as mere gratuitous permission to a third person to use a chattel does not, in contemplation of the common law, take it out of the possession of the owner. 11 Johns. Rep. 285; 7 Cowen, Rep. 753; 9 Cowen, Rep. 687; 2 Saund. Rep. 47 b; 8 Johns. Rep. 432; 13 Johns. Rep. 141, 661; Bac. Abr. Trespass, c 2; Id. Trover, C 2. And in this the Civil agrees with the common law. Dig. 13, 6, 6, 8; Pothier, Pret …, Usage, ch. 1, Sec. 1, art. 2, n. 4; art. 3, n. 9; Ayliffe's Pand. B. 4, t. 16, p. 517; Domat, B. 1, t. 5, Sec. 1, n. 4; and so does the Scotch law. Ersk. Pr. Laws of Scotl. B. 3, t. 1 Sec. 8.
     3.-2. In the civil law, the first obligation on the part of the lender, is to suffer the borrower to use and enjoy the thing loaned during the time of the loan, according to the original intention. Such is not the doctrine of the common law. 9 Cowen, Rep. 687. The lender is obliged by the civil law to reimburse the borrower the extraordinary expenses to which he has been put for the preservation of the thing lent. And in such a case, the borrower would have a lien on the thing, and may detain it, until these extraordinary expenses are paid, and the lender cannot, even by an abandonment of the thing to the borrower, excuse himself from repayment, nor is he excused by the subsequent loss of the thing by accident, nor by a restitution of it by the borrower, without insisting upon repayment. Pothier, Pret … Usage, ch. 3, n. 82, 83; Dig. 13, 6, 18, 4; Ersk. Pr. Laws of Scotl. B. 3, t. 1, Sec. 9. What would be decided at common law does not seem very clear. Story on Bailm. Sec. 274. Another case of implied obligation on the part of the lender by the civil law is, that he is bound to give notice to the borrower of the defects of the thing loaned; and if he does not and conceals them, and any injury occurs to the borrower thereby, the lender is responsible. Dig. 13, 6, 98, 3; Poth. Pret … Usage, n. 84; Domat, Liv. 1, t. 5, s. 3, n. 3. In the civil law there is also an implied obligation on the part of the lender where the thing has been lost by the borrower, and after he has paid the lender the value of it, the thing has been restored to the lender; in such case the lender must return to the borrower either the price or thing. Dig. 13, 6, 17, 5; Poth. Id. n. 85. "The common law seems to recognize the same principles, though," says Judge Story, Bailm. Sec. 276, "it would not perhaps be easy to cite a case on a gratuitous loan directly on the point." See Borrower; Commodate; Story, Bailm. ch. 4; Domat. Liv. 2, tit. 5; 1 Bouv. Inst. n. 1078, et seq.

References in periodicals archive ?
The Royal MonetaryAuthority (RMA) hasapproved three authorizedprivate money lenders sofar.An authorized privatemoney lender can lend aminimum amount of Nu90,000 and go up to Nu500,000.After the rules andregulations on privatemoney lending weredeveloped in 2016, onlyone private money lenderwas approved by Marchthis year.
The case of a more developed informal credit market, however, is not possible due to the existence of many money lenders which increases the options for availing credit from multiple sources.
Online loan providers have recently begun targeting young adults here in their 20s and 30s in Korea in the name of "providing pocket money." Other peer-to-peer lending platforms promote their services as an investment fund or shared wallet to relax young people's vigilance toward the money lenders.
Summary: The Central Bank prohibited all commercial banks and financial institutions from dealing with unlicensed money dealers and money lenders.
Never will take a loan from illegal money lender, and I advise others not to do so.
Val-Chris is also celebrating its 40th anniversary in the private money lending industry as a private money or hard money lender.
Govind Singh, Prahlad's elder brother, said: "While the bank was sending him notices to pay back the loan, the money lenders of the village had confiscated his land." Phulchandra Yadav, tehsildar of the area confirmed that the farmer was debttrapped and money lenders had grabbed a major portion of his land.
BEWARE of illegal money lenders - they want to get you under their control.
Currently, fix and flip projects are all the rage and many of these groups turn to hard money lenders to back them.
A woman who says she paid back more than Dhs50,000 on a Dhs25,000 loan to an illegal loan shark has begun a criminal case against the money lender.
You should not have to repay any loan from an illegal money lender, as a loan made without a licence is unenforceable, unless there is a validation order from the Office of Fair Trading.
Through enforcement action and awareness raising they aim to put an end to the crime and encourage people to celebrate the season without turning to an illegal money lender.