43-37-1      Loan for use--Definition--Money in specie.
43-37-2      Loan for exchange--Definition.
43-37-3      Loan for use or exchange subject to provisions relating to loans for exchange.
43-37-4      Loan for use--Title not transferred--Increase during loan period belongs to lender.
43-37-5      Extent of use of thing by borrower.
43-37-6      Duties of borrower for use--Preservation of thing--Living animal--Care of thing lent, extent of exercise--Repairs caused by negligence.
43-37-7      Borrower for use--Lending to third person without consent of lender forbidden.
43-37-8      Lender of thing for use--Right to require return--Indemnification of borrower for loss.
43-37-9      Loan for exchange--Title transferred to borrower--Right to increase during loan period.
43-37-10      Loan for exchange--Modification of contract by lender forbidden.
43-37-11      Loan for use or exchange--Borrower required to bear all expenses during loan--Exception--Compensation for cost to preserve thing from injury.
43-37-12      Loan for use or exchange--Indemnification of borrower by lender for damages for defects.
43-37-13      Loan for use or exchange--Return of thing to lender by borrower--Specified time--Demand for return.
43-37-14      Loan for use or exchange--Place for return of thing by borrower.

43-37-1. Loan for use--Definition--Money in specie.

A loan for use is a contract by which one gives to another the temporary possession and use of personal property, and the latter agrees to return the same thing to him at a future time, without reward for its use. Money in specie may be loaned for use.

Source: CivC 1877, §§ 1074, 1092; CL 1887, §§ 3698, 3715; RCivC 1903, §§ 1394, 1411; RC 1919, §§ 1017, 1034; SDC 1939, § 38.0201.

43-37-2. Loan for exchange--Definition.

If the borrower agrees to return at a future time a similar thing instead of the identical thing borrowed, the loan is a loan for exchange.

Source: CivC 1877, § 1087; CL 1887, § 3710; RCivC 1903, § 1406; RC 1919, § 1029; SDC 1939, § 38.0201.

43-37-3. Loan for use or exchange subject to provisions relating to loans for exchange.

A loan which the lender permits the borrower at his option to treat as a loan for use or for exchange, is subject to all the provisions of this chapter relating to loans for exchange.

Source: CivC 1877, § 1088; CL 1887, § 3711; RCivC 1903, § 1407; RC 1919, § 1030; SDC 1939, § 38.0204.

43-37-4. Loan for use--Title not transferred--Increase during loan period belongs to lender.

A loan for use does not transfer the title to the thing; and all its increase during the period of the loan belongs to the lender.

Source: CivC 1877, § 1075; CL 1887, § 3699; RCivC 1903, § 1395; RC 1919, § 1018; SDC 1939, § 38.0202.

43-37-5. Extent of use of thing by borrower.

The borrower of a thing for use may use it for such purposes only as the lender might reasonably anticipate at the time of lending.

Source: CivC 1877, § 1080; CL 1887, § 3704; RCivC 1903, § 1400; RC 1919, § 1023; SDC 1939, § 38.0207.

43-37-6. Duties of borrower for use--Preservation of thing--Living animal--Care of thing lent, extent of exercise--Repairs caused by negligence.

A borrower for use must use great care to preserve the thing lent in safety and good condition. If it is a living animal he must treat it kindly and provide all things necessary and suitable for it. He is bound to have and exercise such skill in the care of the thing lent as he causes the lender to believe he possesses and he must repair all deterioration or injury to the thing arising by his negligence.

Source: CivC 1877, §§ 1076 to 1079; CL 1887, §§ 3700 to 3703; RCivC 1903, §§ 1396 to 1399; RC 1919, §§ 1019 to 1022; SDC 1939, § 38.0206.

43-37-7. Borrower for use--Lending to third person without consent of lender forbidden.

The borrower of a thing for use must not part with it to a third person without the consent of the lender.

Source: CivC 1877, § 1081; CL 1887, § 3705; RCivC 1903, § 1401; RC 1919, § 1024; SDC 1939, § 38.0208.

43-37-8. Lender of thing for use--Right to require return--Indemnification of borrower for loss.

The lender of a thing for use may require the return thereof at any time, even though he lent it for a specified time or purpose, unless on the faith of the loan agreement the borrower has made such arrangements that a return of the thing before the time agreed upon or before the accomplishment of the specific purpose would cause him loss exceeding the benefit derived by him from the loan. If in such event the lender compels return before time, the borrower not having in any manner violated his duty, the lender must indemnify the borrower for such loss.

Source: CivC 1877, § 1084; CL 1887, § 3708; RCivC 1903, § 1404; RC 1919, § 1027; SDC 1939, § 38.0210.

43-37-9. Loan for exchange--Title transferred to borrower--Right to increase during loan period.

A loan for exchange transfers title to the thing and the borrower is entitled to all its increase during the loan period.

Source: CivC 1877, § 1089; CL 1887, § 3712; RCivC 1903, § 1408; RC 1919, § 1031; SDC 1939, § 38.0202.

43-37-10. Loan for exchange--Modification of contract by lender forbidden.

A lender for exchange cannot require the borrower to fulfill his obligations at a time, or in a manner, different from that which was originally agreed upon.

Source: CivC 1877, § 1090; CL 1887, § 3713; RCivC 1903, § 1409; RC 1919, § 1032; SDC 1939, § 38.0205.

43-37-11. Loan for use or exchange--Borrower required to bear all expenses during loan--Exception--Compensation for cost to preserve thing from injury.

The borrower of a thing for use, or for exchange, must bear all its expenses during the loan, except such as are necessarily incurred by him to preserve it from unexpected and unusual injury. For such expense he is entitled to compensation from the lender, who may, however, exonerate himself by surrendering the thing to the borrower.

Source: CivC 1877, §§ 1082, 1089; CL 1887, §§ 3706, 3712; RCivC 1903, §§ 1402, 1408; RC 1919, §§ 1025, 1031; SDC 1939, § 38.0203.

43-37-12. Loan for use or exchange--Indemnification of borrower by lender for damages for defects.

The lender of a thing for use or for exchange must indemnify the borrower for damages caused by defects or vices in it, which he knew at the time of lending and concealed from the borrower.

Source: CivC 1877, §§ 1083, 1091; CL 1887, §§ 3707, 3714; RCivC 1903, §§ 1403, 1410; RC 1919, §§ 1026, 1033; SDC 1939, § 38.0209.

43-37-13. Loan for use or exchange--Return of thing to lender by borrower--Specified time--Demand for return.

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.

43-37-14. Loan for use or exchange--Place for return of thing by borrower.

The borrower of a thing for use or for exchange must return it to the lender, at the place contemplated by the parties at the time of lending; or if no particular place was so contemplated by them, then at the place where it was at that time.

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