loan for consumption

Definition of "loan for consumption"
  1. In a loan of this type, the borrower's responsibility is to provide back property of the same sort as that which was borrowed and used. This term is primarily employed in the civil law of Louisiana
How to use "loan for consumption" in a sentence
  1. The bank offered a loan for consumption and required that an equivalent type of collateral property be returned once it's used up.
  2. In the civil law of Louisiana, a loan for consumption may involve borrowing an object and the obligation to return a similar object after use.
  3. Affording that classic car became possible for him through a loan for consumption, with the lender requiring him to return a vehicle of equal value when the loan period ended.

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