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.
Collins Dictionary of Law © W.J. Stewart, 2006

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.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
| Rotherham loanee Josh Kayode scores Gateshead's last-gasp winner at Kettering Town PETER SHORT
If the Fulham loanee was barely tested in the first half, he had to be at his best to beat out a great strike from Sandell from 25 yards before Lee Minshull had an effort blocked away.
Both sides had chances to win it but Walsall were grateful that David Grof, back in goal after loanee Karl Darlow's recall by Nottingham Forest, was in good form.
Andy Metcalf will continue in goal as Everton loanee goalkeeper Connor Roberts is again ruled out after suffering glandular fever, but Newby is hopeful Roberts will be available again for the crunch final game against Gloucester next week.
Norwich are an eclectic mix of Championship and league one signings, mixed with Premier League loanees and no less than six with non-league backgrounds; Grant, Crofts, Jackson, Morrison, Martin and Johnson.
Sam Shilton was scythed down in full flow and from Sean Flynn's precise free-kick, 19-year-old Nottingham Forest loanee Wes Morgan crowned a man of the match display by heading home at the far post.
Jake Robinson headed over as the Stones responded, while Boro loanee Aynsley Pears had to tip over from Jack Paxman.
Sturridge's misery in the survey was complete when only 4.5% of the voters wanted him to be a loanee given another chance at the first team.
That means tying up the futures of a number of loanees, both at the club and elsewhere.
He will also have Rangers loanee KieranWright available - who would have missed last week's game against Arbroath as he was on Scotland under-19s duty.
Both were spurned, Hull City loanee Jonny Edwards unable to convert Reece Grego-Cox's low ball into the six-yard box.
It's just worth pointing out that as quickly as Senhor Mendes (left) can make the likes of Atletico loanee Jota appear, he can also take them away from Molineux.