commodatum

A naked bailment of goods to be returned to the bailor upon request. See Bailment.


As to the second sort of bailment, viz. commodotum or lending gratis, the borrower is bound to the strictest care and diligence, to keep the goods

so as to restore them back again to the lender, because the bailee has a benefit by the use of them, so as if the bailee be guilty of the least neglect, he will be answerable


--------------------------------------------------
Note added at 2003-02-25 14:13:33 (GMT)
--------------------------------------------------

The Contract of Loan. (Commodatum).
In the contract of commodate–loan (commodatum) I give some one the gratuitous use of something that is mine. If it is a thing that is given on loan, the contracting parties agree that the borrower will restore the very same thing to the power of the lender, But the receiver of the loan (commodatarius) cannot, at the same time, assume that the owner of the thing lent (commodans) will take upon himself all risk (casus) of any possible loss of it, or of its useful quality, that may arise from having given it into the possession of the receiver.
http://etext.library.adelaide.edu.au/k/k16sr/part10.html

--------------------------------------------------
Note added at 2003-02-25 18:48:49 (GMT)
--------------------------------------------------

A common business practice is ‘commodatum’, or loan for use without pay, where medical equipment is leased to the ASLs or hospitals with a deadline to return to the supplier. Financial leasing came into use to overcome the slow replacement of obsolete medical equipment. It is unfortunately quite common for publicly owned hospitals to use outdated medical equipment, with appalling consequences in terms of medical risks and higher maintenance costs.
http://www.austrade.gov.au/print_template/0,1059,ContentGrou...

meaning equipment that has not been purchased by the firm or institution....
to have something "on loan" from....
often used in art museums but can be used here to...
universities or labs might have something like this on loan from another place while they undertake a project

--------------------------------------------------
Note added at 2003-02-25 14:22:19 (GMT)
--------------------------------------------------

please note: the idea of having something on-loan IS NOT a financial concept per se

THis is the only way of saying it properly in English in this context

--------------------------------------------------
Note added at 2003-02-25 16:09:52 (GMT)
--------------------------------------------------

if you go with the goodwords you have to say

loan-for-use automated etc. and I think that is over heavy

This is what a commodate loan means.

From the 1st reference:

"Bailments are divisible into three kinds: 1. Those in which the trust is for the benefit of the bailor, as deposits and mandates. 2. Those in which the trust is for the benefit of the bailee, as gratuitous loans for use. 3. Those in which the trust is for the benefit of both parties, as pledges or pawns, and hiring and letting to hire.

Some have divided bailments into five sorts, namely: 1. Depositum, or deposit. 2. Mandatum, or commission without recompense. 3. Commodatum, or loan for use, without pay. 4. Pignori acceptum, or pawn. 5. Locatum, or hiring, which is always with reward. This last is subdivided into, 1. Locatio rei, or biring, by which the hirer gains a temporary use of the thing. 2. Locatio operis faciendi, when something is to be done to the thing delivered. 3. Locatio operis mercium vehendarum, when the thing is merely to be carried from one place to another."