Section 44-12-115. When borrower may transfer thing loaned; liability of article to levy and sale

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If a loan is for the personal benefit and use of the borrower, he cannot transfer the possession of the thing loaned to another without the consent, express or implied, of the lender. If the loan is for a definite time, the borrower has no such interest in the thing loaned as it may be subject to levy and sale.

Orig. Code 1863, § 2108; Code 1868, § 2103; Code 1873, § 2130; Code 1882, § 2130; Civil Code 1895, § 2949; Civil Code 1910, § 3521; Code 1933, § 12-506.

                    
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