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mutuum
mutuum (ˈmuːtʊəm) n1. (Law) a contract for the loan of goods which will be used or consumed by the borrower, to be repaid with goods of an equivalent quantity and quality 2. (Historical Terms) a contract for the loan of goods which will be used or consumed by the borrower, to be repaid with goods of an equivalent quantity and quality 3. (Law) a loan of this kind4. (Historical Terms) a loan of this kindmutuum
mutuum in Roman law, and in Scots law, loan for consumption, the property borrowed being replaced by a similar article. An example would be the ‘borrowing’ of a pint of milk. See COMMODATUM.MUTUUM, or loan for consumption, contracts. A loan of personal chattels to be consumed by the borrower, and to be returned to the lender in kind and quantity; as a loan of corn, wine, or money, which are to be used or consumed, and are to be replaced by other corn, wine, or money. Story on Bailm. Sec. 228; Louis. Code, tit. 12, c. 2; Ayliffe's Pand. 481; Poth. Pand. tom. 22, h.t.; Dane's Ab. Index, h.t.; 1 Bouv. Inst. logo.
2. It is of the essence of this contract, 1st. That there be either a certain sum of money, or a certain quantity of other things, which is to be consumed by use which is to be the subject-matter of the contract, and which is loaned to be consumed. 2d. That the thing be delivered to the borrower. 3d. That the property in the thing be transferred to him. 4th. That he obligates himself to return as much. 5th. That the parties agree on all these points. Poth. Pret. de Consomption, n. 1; 1 Bouv. Inst. n. 1091-6. |