1. MCA Contents
  2. TITLE 31
  3. CHAPTER 1
  4. Part 1
  5. 31-1-101 Loan of money -- what constitutes

TITLE 31. CREDIT TRANSACTIONS AND RELATIONSHIPS

CHAPTER 1. CREDIT TRANSACTIONS

Part 1. Loans of Money -- Interest Rates

Loan Of Money -- What Constitutes

31-1-101. Loan of money -- what constitutes. A loan of money is a contract by which a person delivers a sum of money to another person and the other person agrees to return at a future time a sum equivalent to that which the other person borrowed. A loan for mere use is governed by the law on loan for use.

History: En. Sec. 2580, Civ. C. 1895; re-en. Sec. 5206, Rev. C. 1907; re-en. Sec. 7720, R.C.M. 1921; Cal. Civ. C. Sec. 1912; Field Civ. C. Sec. 966; re-en. Sec. 7720, R.C.M. 1935; R.C.M. 1947, 47-119; amd. Sec. 968, Ch. 56, L. 2009.