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 ?
A Volvo dealership in Bradford, Yorkshire, England is providing its customers the choice of a loaner bicycle or a traditional loaner car when they visit their Volvo office for service.
CDF's loaner program allows students at Palomar to experience "exotic hardwoods" and prime themselves on "urban wood utilization," according to Eric Oldar, a regional field specialist at CDF.
Finance and managerial accounting students can check out loaner copies of the required texts for Sacramento City College professor Greg Burbage's courses as well as view his "Study Notes for Financial Accounting." Users also can link to CPA certifying organizations and exam information, and federal tax forms and instructions.
It is designed to enhance the traditional tools already available to the company's clients, such as the catalog, brochure and loaner program, according to company officials.
Having BABY-1 makes it easier to operate the centers because it acts as a mobile storage area for needed demonstration and loaner seats.
Foundation for Boating Safety and Clean Water, an arm of the Boat Owners Association of the United States, Alexandria, Virginia, developed a life jacket loaner program in 1997.
But not only does Fujitsu have no MO technicians in the U.S., they apparently have no "loaner" drives here either.
A customer, McGowan, was having his car repaired at Ray's and took out a loaner vehicle.
* Provide residents in need of amplification with a loaner hearing aid until more permanent arrangements were made
Although most shooters bring their own equipment, loaner guns are available.
Finding loaner furniture to substitute for late deliveries, helping the contractor work around piles of debris during a garbage strike, or appeasing local neighborhood coalitions are all in a day's work.