A loan it is a loan of use. The loan agreement establishes that one party gives the other some type of good to use. The loan is established for a specified period of time, at the end of which the property must be returned in the same state in which it was delivered.
- Comfortable. It is the part that delivers the good.
- Borrower. It is the part that receives the good.
The property of the good remains with the accommodating. The borrower only has possession of it.
The loan agreement is nominatedIn other words, in each country it is drawn up according to the laws that regulate it. It cannot be drawn up freely but only in accordance with current regulations.
Example of a loan agreement
“Between Juan Pérez, Argentine, of legal age, with document number 35,678,954, single as the owner of the property located at: Calle 54, number 375, city of La Plata, and hereinafter referred to as COMFORTABLE, and, on the other hand, Mr. Alberto Ruiz, with document number 30,556,782, single, hereinafter the COMFORTABLE, agree as follows:
FIRST: The owner, COMODANTE, delivers in this act, to the COMODATARIOS, who accept it in their full conformity, as a loan, a property located at Calle 54, number 375, city of La Plata, committing the COMODATARIOS to restore them in the same way who receive it in this act.-
SECOND: This loan contract is for the purpose of being used by the COMODATARIOS for their home, being prohibited from introducing other people and changing the aforementioned destination.
THIRD: It is established by common agreement that the term of this loan agreement is for the term of TWENTY-FOUR consecutive and consecutive MONTHS, counting from May 5, 2017, expiring unfailingly on May 4, 2019. This term is It is considered non-extendable and no reminder is necessary about the expiration date. The COMODANTE owner, or whoever represents his rights, may judicially request the restitution of the property the day after the established term has expired, plus any damages that may correspond to the undue retention of the property.
QUARTER: The ASSISTANTS, are obliged and strictly commit to: a) not assign totally or partially this contract or the property, be it free or onerous, not sublet it, b) not make improvements to the property without express consent and for writing of the COMODANTE, and for the assumption that they will carry them out, they may be restored to the previous state at the expense of the COMODATARIOS, or they will be for the benefit of the property without any charge from the COMODANTE, nor can it be used by the COMODATARIOS to continue in the property at the expiration of the contract; c) not to modify the destination that has been indicated in the second clause of this contract. In the event of non-compliance by the ASSISTANTS to any of the subsections of this clause and in any of the other obligations assumed by the present, it will entitle the COMODATOR to terminate this contract.
FIFTH: The COMODATARIOS undertake and undertake to allow the COMODANTE and her family group to enter the property as many times as they deem appropriate. They must also allow the stay in the property for as long as it is and whatever the reason. They also undertake to provide all facilities and will allow them to carry out all the modifications or improvements that they deem appropriate, in case of opposition by the COMODATARIOS, the COMODANTE or whoever their rights represents may request the termination of this loan agreement and the damages and damages that may correspond.-
SIXTH: It is established by common agreement that the COMODATARIOS will take charge of the consumption of electricity, gas, water and telephone, being and showing that they are up to date at the time of signing the same and having to justify that they are up to date in the payment of the service, all the times that the COMODANTE requires it. They must also justify, at the expiration of this contract, that there is no debt of any nature for the use of said service. Likewise, the COMODATARIOS are responsible for the cut off of any of the supplies, being in charge of the resumption of the service.-
SEVENTH: It is expressly stated that the COMODATARIOS do not keep any type of labor relationship with the COMODANTE and / or his family, nor are they under their dependence.-
EIGHTH: This contract is governed by articles 2255, 2271 concordant and correlative of the Civil code.
For any judgment resulting from this contract and from all the actions that emerge from it, both parties choose and accept only the ordinary justice of the Province of Buenos Aires, renouncing any other jurisdiction or jurisdiction or especially the Federal jurisdiction.
In proof of compliance with the agreement, two copies of the same tenor and a single effect are signed, in the City of La Plata on April 30, 2017. “
This contract will be different in each country. For example, in point EIGHTH, the articles of the Argentine Civil Code are cited, so that passage will be different in other countries.
Characteristics of the loan
The Loan agreement, in addition to being nominated (regulated by law) is:
- Commutative. It generates obligations for both parties to the contract.
- Gratuitous. Unlike rental contracts, the loan is the delivery of an asset without receiving any payment in return.
- Real. The delivery of the property must be effective.
- Deferred execution. The delivery of the good as well as its return is after the signing of the contract.
It is important to point out that a loan agreement is not a usufruct contract, that is to say that if the good delivered produces economic fruits, the recipient does not have the right to those fruits.
Examples of loan
- When a modem is used to obtain television or Internet services, the modem is loaned to the user. In other words, it is delivered free of charge and must be returned once the service contract is terminated.
- Real estate: a house can be loaned. This brings benefits for the borrower, since he has a home at his disposal without paying rental costs. But it can also be a benefit for the borrower, for example, if the property, for whatever reason, cannot be rented, the fact that it is in loan ensures that the borrower will pay the maintenance and use expenses.
- Returnable beverage containers: Many beverages use recyclable containers. The user takes this container at no cost and returns it once the drink is finished. Traders receive a specified number of bottles from the manufacturer, which they then return to.