Loan

^ 1.

Referring to a chattel, a bailment without reward; also, the thing itself so bailed. Iioan for consumption. Contemplates a return of the article in kind: strictly, a barter or an exchange.' Compare MUTUtJM. See Legacy. Loan for use. A bailment of goods to be used by the bailee temporarily, or for a certain time, without reward.* See Bailment; Hieing. 2. (1) Referring to money, never implies a return of the identical coin or notes; yet the idea of a reward for the use is not excluded. The delivery by one party, the lender, to, and the receipt by, another party, the torrower, of a given sum of money, upon an agreement, express or implied, to repay the sum with or without interest.' (2) The advance upon a note discounted, without reference to its character as business or accommodation paper. * See Discount; Interest, 2 (3); TTsdbt. Loan association, or society. See Building, Association. li Oan certificate. During times of financial panic, in New Tox-k City, and perhaps elsewhere, what are known as " loan certificates " are issued by the clearing-house to the associated banks, to the amount of seventy-five per centum of the value of the collaterals. deposited by the borrowing banics with the loan committee of the clearing-house.