Common Contracts
1 similar Loan Agreement contracts
ContractLoan Agreement • June 12th, 2014
LOAN COMMODATUM GENERAL PROVISIONS Art. 1933.CONTRACT OF LOAN; definedone of the parties delivers to another, either• something not consumable so that the latter may use the same for a certain time and return it, in which case the contract is called a commodatum; or• money or other consumable thing, upon the condition that the same amount of the same kind and quality shall be paid, in which case the contract is simply called a loan or mutuum. NATURE:Art. 1935. The bailee in commodatum acquires the used of the thing loaned but not its fruits; if any compensation is to be paid by him who acquires the use, the contract ceases to be a commodatum. Art. 1940. A stipulation that the bailee may make use of the fruits of the thing loaned is valid. Art. 1936. Consumable goods may be the subject of commodatum if the purpose of the contract is not the consumption of the object, as when it is merely for exhibition. RIGHTS OF THE BAILEE1. acquires the use of the thing loaned2. does not cov
