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.
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But Blackemore and other protesters, all of whom were members of the Chicago chapter of ACORN, a national group of low-and moderate-income families, charge that companies offering rapid refund loans with interest rates as high as 300 percent are concentrated in low-income neighborhoods.
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31, 2001, only IRA participants and beneficiaries will be prohibited from plan loans. A similar amendment was made to the parallel ERISA provision.
People have always needed small, short-term loans, and others have always been willing to provide them.
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Many older ESOPs are drawing attention again as the loans the plans used to acquire stock come due.