Abstract / Excerpt:

Money is something generally accepted as a medium of exchange, a measure of value, or a means of payment. Indeed, it is a tool of exchange right in the heart of every commercial transaction, including a contract of loan.

By the contract of loan, one 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 a mutuum. A simple loan may be gratuitous or with a stipulation to pay interest.

Full Text

Money is something generally accepted as a medium of exchange, a measure of value, or a means of payment. Indeed, it is a tool of exchange right in the heart of every commercial transaction, including a contract of loan.

By the contract of loan, one 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 a mutuum. A simple loan may be gratuitous or with a stipulation to pay interest.

Info

Source Journal	Mindanao Law Journal
Journal Volume	Mindanao Law Journal Vol. 5 No. 5
Authors	Jazzie M. Sarona
Page Count	7
Place of Publication	Davao City
Original Publication Date	January 1, 2014
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