20:49
THATS SO FUNNY
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
commodate
Read a random definition: absolute assignment
A quick definition of commodate:
Commodate means lending something to someone for free, with the expectation that it will be returned undamaged. This is a type of contract for permissive use, where the borrower is the only one who benefits. The borrower must take good care of the item and return it in the same condition. If something happens to the item that is beyond the borrower's control, like a fire or accident, they are not responsible. However, if the borrower uses the item in a way that was not agreed upon, they may be held responsible for any damage or loss.
A more thorough explanation:
Definition: Commodate (kom-uh-deyt) is a type of contract in Roman and civil law where goods are lent to a borrower for a specific purpose and time period, with the borrower being required to return the same goods undamaged to the lender. This arrangement is for the sole benefit of the borrower and is a form of permissive use contract.
Example: If a friend lends you their car for a weekend trip, that is an example of a commodate. The friend is lending you their car for a specific purpose and time period, and you are required to return the same car undamaged to the friend. This arrangement is for your benefit as the borrower.
The example illustrates the definition of commodate as it involves the lending of goods for a specific purpose and time period, with the borrower being required to return the same goods undamaged to the lender. The arrangement is also for the sole benefit of the borrower, as they are the ones using the borrowed goods.