Legal Definition and Related Resources of Borrower
Meaning of Borrower
He to whom a thing l8 lent at his request. As used in usury laws, it includes any person who is a party to the original contract, or in any way liable to pay the loan. 64 N. Y. 247; 65 N. Y. 432; 11 Wend. (N. Y.) 329; 7 Hill (N. Y.) 391; 75 N. Y. 516, 523, 31 Am. Rep. 484, reversing 10 Hun, 468. In general, he has the right to use the thing borrowed, himself, during the time and for the purpose intended between the parties. He is bound to take extraordinary care of the thing borrowed; to use it according to the intention of the lender; to restore it in proper condition at the proper time. See “Bailment;” Story, Bailm. § 268; 2 Kent, Comm. 446-449; 1 Bouv. Inst. 1078-1090.
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| Borrower in the Dictionary | Borrower in our legal dictionaries | Browse the Legal Thesaurus | Find synonyms and related words of Borrower |
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| Related topics | Borrower in the World Encyclopedia of Law |
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This definition of Borrower is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.
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Concept of Borrower in the context of Real Property
Alternatives definitions of Borrower: 1. The party receiving funds that must be repaid, usually with interest. 2. One who uses anything belonging to another with the agreement to return it.
Concept of Borrower in the context of Real Property
Alternatives definitions of Borrower: 1. The party receiving funds that must be repaid, usually with interest. 2. One who uses anything belonging to another with the agreement to return it.
Borrower
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