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 ?
Leicester are not the only ones to rely increasingly on top flight loanees.
Since 1974, 396,680 loan accounts worth S7.5 billion have matured for repayment while 264,000 loanees holding Sh24.5 billion have not.Of the 396,680 loan accounts, a total of 175,003 loanees have completed their loan repayment valued at Sh16.7 billion.
RYAN KENT Kent is arguably the loanee who has made the most of his opportunity so far.
HARTLEPOOL United could include Newcastle United loanee Sammy Adjei in their squad to face MK Dons today, writes PAUL REECE.
Darlington now have just two loanees -experienced defender Alan White and young keeper Shane Redmond.
class="MsoNormalMr Ringera said Helb had recovered Sh508million from 9,112 loanees who had paid within the amnesty period which started on May 3 and ended on June 30.
Cheltenham v Stevenage Robins have six loanees and Matt Sparrow will hope not to miss out for a second match.
Loanees Shane Lowry and Gary McSheffrey have forgotten about their respective rivalries and are rooming together for the League One club.
Reading v Cardiff City Reading could hand debuts to loanees Nathan Ake and Kwesi Appiah.
His attitude, unlike some loanees down the years, has been spot-on and he even managed to sparkle sporadically among the dross of a team performance in last Saturday's 3-1 home defeat to Bournemouth.
Only five loanees can figure in the team so, in every game, at least two loanees will be on the outside looking in.
Yeovil will make changes as loanees Ryan Inniss and Tom Eaves have left.