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Simple English definitions for legal terms
lend
Read a random definition: giving in payment
A quick definition of lend:
LEND: To let someone borrow something for a little while, with the agreement that they will give it back later. This can also apply to giving someone money, with the understanding that they will pay it back with interest.
A more thorough explanation:
Definition: To allow someone to use something temporarily, usually in exchange for compensation, with the condition that it will be returned. It can also mean to provide money temporarily with the expectation of repayment, often with interest.
- I will lend you my car for the weekend, but please return it with a full tank of gas.
- The bank agreed to lend me $10,000 to start my business, but I will have to pay it back with interest.
In the first example, someone is allowing another person to use their car temporarily, with the expectation that it will be returned. This is an example of lending something. In the second example, the bank is providing money temporarily, with the expectation that it will be paid back with interest. This is an example of lending money.