|1.||The act of lending; a lending; permission to use; |
|2.||That which one lends or borrows, especially a sum of money lent at interest; |
|v. t.||1.||To lend; - sometimes with |
|Noun||1.||loan - the temporary provision of money (usually at interest)|
|2.||loan - a word borrowed from another language; e.g. `blitz' is a German word borrowed into modern English|
|Verb||1.||loan - give temporarily; let have for a limited time; "I will lend you my car"; "loan me some money"|
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.