9:02
almost all of my apps have been UR for 6 weeks at this point I feel exhausted waiting for them to finish
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
mutuum
Read a random definition: compensatory damages
A quick definition of mutuum:
Term: MUTUUM
Definition: Mutuum is a type of transaction where goods are given to someone, but instead of returning the same goods, they are replaced with other goods of the same kind. This is considered a sale or exchange, not a loan. In Roman law, mutuum was a contract where the borrower received money or goods and had to return an equivalent amount. It was one of the real contracts, along with loan for use and deposit and pledge.
A more thorough explanation:
Definition: Mutuum is a type of transaction where goods are delivered, but instead of being returned, they are replaced by other goods of the same kind. This is considered a sale or exchange, not a bailment, because the specific goods are not returned. In Roman law, mutuum was a real contract where money or fungible goods were lent to a borrower, who was strictly liable to return an equivalent amount. Any interest had to be agreed upon beforehand.
- When John borrowed a bag of sugar from his neighbor, he promised to return the same amount of sugar. This is an example of mutuum.
- In ancient Rome, a moneylender would lend coins to a borrower, who would have to return the same amount of coins. This is also an example of mutuum.
These examples illustrate mutuum because in both cases, the borrower is not returning the exact same goods that were borrowed. Instead, they are returning goods of the same kind or value. In the Roman law example, the borrower is strictly liable to return an equivalent amount of money or fungible goods, which means they cannot return something of lesser value.