Legal Definitions - ex commodato

Ex commodato refers to a legal right or a cause of action that originates directly from a loan agreement. This term historically described situations where someone had a legal claim because the terms of a loan, whether of an item or money, were not fulfilled or were violated.

• Example 1: Loan of a valuable item

  Imagine a situation where a collector lends a rare antique vase to a museum for a temporary exhibition, with a clear agreement that the vase must be returned in its original condition. If, during the exhibition, the vase is negligently damaged by museum staff, the collector would have a legal right to seek compensation from the museum. This right to seek compensation arises directly out of the loan agreement for the vase, making it an action that would historically be described as ex commodato.

• Example 2: Personal loan of money

  Consider a scenario where an individual lends a significant sum of money to a friend, with a written agreement detailing the repayment schedule and interest. If the friend fails to make the agreed-upon payments and defaults on the loan, the lender has a legal basis to pursue the outstanding debt. The lender's ability to take legal action to recover the money is a right that stems from the initial loan agreement, illustrating the principle of ex commodato.

• Example 3: Loan of equipment for a specific purpose

  A small business owner loans a specialized piece of machinery to a neighboring business for a specific, time-limited project, under the condition that it is used only for that project and returned undamaged. If the neighboring business uses the machinery for an entirely different, more strenuous task, causing significant wear and tear or breakage, the original owner would have a claim for damages. This claim is directly linked to the violation of the terms under which the machinery was loaned, demonstrating a right of action ex commodato.