31-1-101. Loan of money -- what constitutes.
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/mt/title-31/chapter-1/part-1/31-1-101·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.