Loan for consumption

Loan for consumption,

Definition of Loan for consumption:

  1. Express or implied contract under which a lender hands over (see delivery) certain consumable goods (such as food, fuel, material) to a borrower. The borrower is obligated to return the goods of same or equivalent quantity, quality, and type within a specified or reasonable period. Type of lend lease.

Meaning of Loan for consumption & Loan for consumption Definition