Who is responsible for borrowed equipment?
The Borrower is responsible for the full cost of repair or replacement of any or all of the Equipment that is damaged, lost, confiscated, or stolen from the time Borrower assumes custody until it is returned to Lender.
Is borrowing something without asking stealing?
Usually, borrowing without consent is called “stealing”. Some jurisdictions (like the question you link to) may not call it theft, but it is almost always illegal. Otherwise, among other problems, it would create a loophole rendering any theft de facto permissible.
What is lend?
1 : to give for temporary use on condition that the same or its equivalent be returned. 2 : to let out (money) for temporary use on condition of repayment with interest. intransitive verb. : to make a loan. Other Words from lend.
Does it count as stealing if you give it back?
YES. Theft is theft even if you later return it.
What is Commodatum and Mutuum?
By the contract of loan, one of the parties delivers to another, either something not consumable so that the latter may use the same for a certain time and return it, in which case the contract is called a commodatum; or money or other consumable thing, upon the condition that the same amount of the same kind and …
How to minimize risk when lending and borrowing equipment?
Also, see if the borrower’s policy prohibits the type of equipment borrowed or excludes certain coverages specific to your type of equipment, such as boom or weight of load damages. If there are any issues, ask the borrower to place the item on the scheduled list of equipment already insured by their policy.
Why is it important to borrow construction equipment?
Borrowing equipment is a common occurrence in the construction industry as it can save time and costs. Whether it’s for an hour or a week, there’s always the risk of damage to borrowed equipment.
Can a neighbor use a portion of your property?
A lease or rental agreement, of course, constitutes documented permission by the owner to the possessor, and would thus defeat any future claim that the individual “owns” your land. Read more about this strategy in, Avoiding Adverse Possession Claims by Renting Portion of Your Property to Neighbor.
What happens to equipment loaned out in Yukon?
The equipment is the property of Equine Association of Yukon and must be returned in the same condition that it was loaned out. If any damage beyond expected wear and tear of equipment occurs during the borrowing time frame, or any parts are not returned, EAY has the right to charge for the replacement cost of those items.