The difference between Bailment and Loan
When used as nouns, bailment means bail, whereas loan means a sum of money or other valuables or consideration that an individual, group or other legal entity borrows from another individual, group or legal entity (the latter often being a financial institution) with the condition that it be returned or repaid at a later date (sometimes with interest).
Loan is also verb with the meaning: to lend (something) to (someone).
check bellow for the other definitions of Bailment and Loan
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Bailment as a noun (obsolete):
Bail.
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Bailment as a noun (legal):
The handing over of control over, or possession of, personal property by one person, the bailor, to another, the bailee, for a specific purpose upon which the parties have agreed.
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Loan as a noun (banking, finance):
A sum of money or other valuables or consideration that an individual, group or other legal entity borrows from another individual, group or legal entity (the latter often being a financial institution) with the condition that it be returned or repaid at a later date (sometimes with interest).
Examples:
"He got a loan of five thousand pounds."
"All loans from the library, whether books or audio material, must be returned within two weeks."
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Loan as a noun:
The contract and array of legal or ethical obligations surrounding a loan.
Examples:
"He made a payment on his loan."
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Loan as a noun:
The permission to borrow any item.
Examples:
"Thank you for the loan of your lawn mower."
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Loan as a verb (usually double, _, transitive, US, dated in, _, UK, informal):
To lend (something) to (someone).
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Loan as a noun (Scotland):
A lonnen.