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of <h1>Legal definition of loan requires temporary transfer with obligation to return or repay equivalent compensation</h1> The text defines 'loan' through various legal sources. According to Jowitt's Dictionary, a loan is anything lent to another on condition of return or repayment. It distinguishes between gratuitous loans (commodatum) for use and mutuum for consumption. The borrower must use the item according to agreed terms, take proper care, and restore it appropriately. Black's Law Dictionary defines loan as anything furnished temporarily upon request for return or equivalent compensation. A court case reference is included regarding a biscuit company versus a state government, though specific details are not provided in this definitional context.
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