20:59
got a random stanford email and almost had a heart attack
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
commodatum
Read a random definition: credit card fraud
A quick definition of commodatum:
Commodatum: A type of agreement where someone lends something to another person for free, but expects it to be returned undamaged. The borrower is responsible for taking good care of the item, but is not held accountable for accidents or events beyond their control. 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: Commodatum (kom-uh-dey-tuhm) is a legal term that refers to the act of lending goods to someone for their use, with the expectation that the goods will be returned undamaged to the lender. This type of arrangement is for the sole benefit of the borrower and is usually a temporary and specific purpose.
Examples: An example of commodatum is when a friend lends you their car for a weekend trip. The friend expects the car to be returned undamaged and for the sole purpose of the trip. Another example is when a library lends a book to a borrower. The library expects the book to be returned undamaged and for the sole purpose of reading it.
Explanation: Commodatum is a type of contract for permissive use, where the lender allows the borrower to use their goods without any charge. The borrower is responsible for taking care of the goods and returning them in the same condition as they were received. If the borrower uses the goods for a purpose other than what was agreed upon, they may be held liable for any damages or loss that occurs.