If a thing is lent for use or for exchange for a specified time or purpose, it must be returned to the lender without demand, as soon as the time has expired or the purpose has been accomplished. In other cases it need not be returned until demanded.

Source: CivC 1877, §§ 1085, 1086, 1091; CL 1887, §§ 3709, 3714; RCivC 1903, §§ 1405, 1410; RC 1919, §§ 1028, 1033; SDC 1939, § 38.0211.