North Dakota Code 47-14-01 – Loan of money defined
Current as of: 2023 | Check for updates
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A loan of money is a contract by which one delivers a sum of money to another and the latter agrees to return at a future time a sum equivalent to that which the person borrowed. A loan for mere use is governed by chapter 47-12.
Terms Used In North Dakota Code 47-14-01
- Contract: A legal written agreement that becomes binding when signed.
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49