BlogContracts & TransactionsLegal ResourcesContracts: Deposit Contract v Usage Contract v Loan Contracts

September 8, 20220
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What are the differences between the deposit contract and the usage contract?

 

Similarities: The deposit contract is similar to the usage contract, because in both of these contracts the item passes into the hands of one of the parties.

 

Differences:

 

  1. The first difference is that in the usage agreement, the purpose of giving the thing in use is its use by the borrower, while in the deposit contract the purpose of giving the thing is only its preservation and not its use;
  2. The second difference is that the deposit contract is concluded for the benefit of the one who leaves the thing in deposit, i.e. for the benefit of the owner of the thing, while in the case of a usage the contract is concluded for the benefit of the one who receives the thing from the owner.
  3. The third difference is that the usage contract is always concluded without remuneration, while the deposit is presumed as a remuneration contract, which can exceptionally be concluded without remuneration.

 

What are the differences between the deposit contract and the loan contract?

 

Similarities: The deposit resembles the loan contract because both can be concluded with remuneration or without remuneration.

Differences:

 

  1. First, regarding the object of the contract on deposits, objects are non-consumable and individually defined items, while foreign objects are consumable and gender-defined items.
  2. Second, in the case of the deposit, the right of subordination over the thing passes, while in the case of the loan, the right of ownership passes.
  3. Finally, only if the regular deposit turns into an irregular deposit will the latter be legally equated with the loan contract.

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