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necessarily performed by him about it, and to a reasonable reward for keeping it. En. March 21, 1872.

§ 1868. Finder may put thing found on storage. The finder of a thing may exonerate himself from liability at any time by placing it on storage with any responsible person of good character, at a reasonable expense. En. March 21, 1872.

$ 1869. When finder may sell the thing found. The finder of a thing may sell it, if it is a thing which is commonly the subject of sale, when the owner cannot, with reasonable diligence, be found, or being found, refuses, upon demand, to pay the lawful charges of the finder, in the following cases:

1. When the thing is in danger of perishing, or of losing the greater part of its value; or,

2. When the lawful charges of the finder amount to two thirds of its value. En. March 21, 1872.

Lost money and goods: See Pol. Code, secs. 3136-3142.

§ 1870. How sale is to be made. A sale under the provisions of the last section must be made in the same manner as the sale of a thing pledged. En. March 21, 1872.

Cal.Rep.Cit. 136, 181.
Sale of pledge: See post, secs. 3000 et seq.

$ 1871. Surrender of thing to the finder. The owner of a thing found may exonerate himself from the claims of the finder by surrendering it to him in satisfaction thereof. En. March 21, 1872.

$ 1872. Thing abandoned. The provisions of this article have no application to things which have been intentionally abandoned by their owners. En. March 21, 1872.

Cal.Rep.Cit. 115, 590; 115, 592.

411

CHAPTER III.

DEPOSIT FOR EXCHANGE.

$ 1878. Relations of the parties. $ 1878. Relations of the parties. A deposit for exchange transfers to the depositary, the title to the thing deposited, and creates between him and the depositor the relation of debtor and creditor merely. En. March 21, 1872 Deposit for exchange defined: Ante, sec. 1818. Loan for exchange: See post, sec. 1902.

TITLE IV.

LOAN.
Chapter I. Loan for Use, $8 1884-1896.

II. Loan for Exchange, $8 1902-1906.
III. Loan of Money, 8$ 1912-1920.

CHAPTER 1.

1886. 1887.

LOAN FOR USE. 1884. Loan, what. 1885. Title to property lent.

Care required of borrower.

Same. 1888. Degree of skill. 1889. Borrower, when to repair injuries. 1890. Use of thing lent. 1891. Relending forbidden. 1892. Borrower, when to bear expenses. 1893. Lender liable for defects. 1894. Lender may require return of thing lent. 1895. When returnable without demand. 1896. Place of return. I 1884. Loan, what.

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. En. March 21, 1872. I 1885. Title to property lent. A loan for use does not transter the title to the thing; and all its increase during the period of the loan belongs to the lender. En. March

21, 1872.

$ 1886. Care required of borrower. A borrower for use must use great care for the preservation in safety and in good condition of the thing lent. En. March 21, 1872.

$ 1887. Same. One who borrows a living animal for use must treat it with great kindness, and provide everything necessary and suitable for it. En. March 21, 1872.

Depositary of living animals for keeping: See ante, sec. 1834.

$ 1888. Degree of skill. A borrower for use is bound to have and to exercise such skill in the care of the thing lent as he causes the lender to believe him to possess. En. March 21, 1872.

Compare with sec. 1976.

$ 1889. Borrower, when to repair injuries. A borrower for use must repair all deteriorations or injuries to the thing lent, which are occasioned by his negligence, however slight. En. March 21, 1872.

$ 1890. Use of thing lent. 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. En. March 21, 1872.

See next section.

$ 1891. Relending forbidden. The borrower of a thing for use must not part with it to a third person, without the consent of the lender. En. March 21, 1872.

Cal.Rep.Cit. 123, 493.

$ 1892. Borrower, when to bear expenses. The borrower of a thing for use 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 expenses he is entitled to compensation from the lender, who may, however, exonerate himself by surrendering the thing to the borrowed. En. March 21, 1872.

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$ 1893. Lender liable for defects. The lender of a thing for use must indemnify the borrower for damage caused by defects or vices in it, which he knew at the time of

lending, and concealed from the borrower. En. March 21, 1872.

See, also, ante, sec. 1833.
Loan for exchange: See post, secs. 1902, 1906.

$ 1894. Lender may require return of thing lent. The lender of a thing for use may at any time require its return, even though he lent it for a specified time or purpose. But, if, on the faith of such an agreement, the borrower has made such arrangements that a return of the thing before the period agreed upon would cause him loss, exceeding the benefit derived by him from the loan, the lender must indemnify him for such loss, if he compels such return, the borrower not having in any manner violated his duty. En. March 21, 1872.

Cal.Rep.Cit. 50, 348.

$ 1895. When returnable without demand. If a thing is lent for use for a specified time or purpose, it must be returned to the lender without demand, as soon as the ne has expired, or the purpose has been accomplished. In other cases it need not be returned until demanded. En. March 21, 1872.

$ 1896. Place of return. The borrower of a thing for use 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. En. March 21, 1872.

CHAPTER II.

$ 1902. š 1903. $ 1904. § 1905. $ 1906.

LOAN FOR EXCHANGE.
Loan for exchange, what.
Same.
Title to property lent.
Contract cannot be modified by lender.
Certain sections applicable.

$ 1902. Loan for exchange, what. A loan for exchange is a contract by which one delivers personal property to another, and the latter agrees to return to the lender a similar thing at a future time, without reward for its use. En. March 21, 1872.

Loan of money as a loan for exchange: See sec. 1912.

8 1903. Same. A loan, which the borrower is allowed by the lender to treat as a loan for use, or for exchange, at his option, is subject to all the provisions of this chapter. En. March 21, 1872.

$ 1904. Title to property lent. By a loan for exchange the title to the thing lent is transferred to the borrower, and he must bear all its expenses, and is entitled to all its increase. En. March 21, 1872.

$ 1905. Contract cannot be modified by lender. 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. En. March 21, 1872.

§ 1906. Certain sections applicable. Sections 1893, 1895, and 1896, apply to a loan for exchange. En. March 21, 1872.

CHAPTER III.

LOAN OF MONEY. $ 1912. Loan of money, defined. $ 1913.

Loan to be repaid in current money. § 1914. Loan presumed to be on interest. § 1915. Interest, what. $ 1916. Annual rate. 8 1917. Legal interest. $ 1918. Parties may agree on any rate.

1919. Interest becomes part of principal, when. $ 1920. Interest on judgment.

$ 1912. Loan of money, defined. A loan of money is a contract by which one delivers a sum of money to another, and the latter agrees to return at a future time a sum equivalent to that which he borrowed. A loan for mere use is governed by the chapter on Loan for Use. En. March 21, 1872.

Cal.Rep.Cit. 57, 602.
Interest: See secs. 1914 et seq.

$ 1913. Loan to be repaid in current money. A bor rower of money, unless there is an express contract to the contrary, must pay the amount due in such money as is current at the time when the loan becomes due, whether such money is worth more or less than the actual money

En, March 21, 1872.
n. Cit. 113, 229; 114, 261.
*: 668 Code Civ. Proc.

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