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The tax treatment of losses arising in loans advanced
Our law recognises two types of loans, namely a loan for use (commodatum) and a loan for consumption (mutuum)'. In a loan for use something is delivered for use by a borrower without reward, and the borrower is obliged to return the same thing he received on loan. For example, a person may lend anot...
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| Format: | Thesis |
| Language: | English |
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Department of Commercial Law
2021
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| _version_ | 1867614510386249728 |
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| access_status_str | Open Access |
| author | Cochrane, Graham David |
| author_browse | Cochrane, Graham David |
| author_facet | Cochrane, Graham David |
| author_sort | Cochrane, Graham David |
| collection | Thesis |
| description | Our law recognises two types of loans, namely a loan for use (commodatum) and a loan for consumption (mutuum)'. In a loan for use something is delivered for use by a borrower without reward, and the borrower is obliged to return the same thing he received on loan. For example, a person may lend another person an asset of his, and when the recipient has finished using that asset the identical asset in the same condition as received, is to be returned to the lender. In a loan for consumption one or more units of some fungible thing are delivered to the borrower. The borrower may consume what has been received but is bound to return the same number of units of the type of the thing borrowed. In constrasting a commodatum with a mutuum, it can be seen that a lender ·in the first instance retains ownership of the asset loaned, whereas in the second, ownership is passed to the borrower, who undertakes to repay the loan by delivering things of an identical quality and quantity as those borrowed. Thus, an essential characteristic of a loan of money is that the lender is either the owner of the funds advanced, or is authorised to make the loan by the owner. Once delivery has taken place to the borrower a contract can probably be said to be binding. 2 Thus, a contract of loan cannot be said to be binding by part performance as, in mutuum the only person bound is the person who received a service by the handing over of the money in question. |
| format | Thesis |
| id | oai:open.uct.ac.za:11427/35416 |
| institution | University of Cape Town (South Africa) |
| language | eng |
| last_indexed | 2026-06-10T12:53:11.503Z |
| license_str | Not specified — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UCTD — University of Cape Town Open Access Repository |
| publishDate | 2021 |
| publishDateRange | 2021 |
| publishDateSort | 2021 |
| publisher | Department of Commercial Law |
| publisherStr | Department of Commercial Law |
| record_format | dspace |
| source_str | UCTD — University of Cape Town Open Access Repository |
| spelling | oai:open.uct.ac.za:11427/35416 The tax treatment of losses arising in loans advanced Cochrane, Graham David Loans Law and legislation South Africa Our law recognises two types of loans, namely a loan for use (commodatum) and a loan for consumption (mutuum)'. In a loan for use something is delivered for use by a borrower without reward, and the borrower is obliged to return the same thing he received on loan. For example, a person may lend another person an asset of his, and when the recipient has finished using that asset the identical asset in the same condition as received, is to be returned to the lender. In a loan for consumption one or more units of some fungible thing are delivered to the borrower. The borrower may consume what has been received but is bound to return the same number of units of the type of the thing borrowed. In constrasting a commodatum with a mutuum, it can be seen that a lender ·in the first instance retains ownership of the asset loaned, whereas in the second, ownership is passed to the borrower, who undertakes to repay the loan by delivering things of an identical quality and quantity as those borrowed. Thus, an essential characteristic of a loan of money is that the lender is either the owner of the funds advanced, or is authorised to make the loan by the owner. Once delivery has taken place to the borrower a contract can probably be said to be binding. 2 Thus, a contract of loan cannot be said to be binding by part performance as, in mutuum the only person bound is the person who received a service by the handing over of the money in question. 2021-12-02T14:48:53Z 2021-12-02T14:48:53Z 1991 2021-12-02T13:25:56Z Master Thesis Masters LLM http://hdl.handle.net/11427/35416 eng application/pdf Department of Commercial Law Faculty of Law |
| spellingShingle | Loans Law and legislation South Africa Cochrane, Graham David The tax treatment of losses arising in loans advanced |
| thesis_degree_str | Master's |
| title | The tax treatment of losses arising in loans advanced |
| title_full | The tax treatment of losses arising in loans advanced |
| title_fullStr | The tax treatment of losses arising in loans advanced |
| title_full_unstemmed | The tax treatment of losses arising in loans advanced |
| title_short | The tax treatment of losses arising in loans advanced |
| title_sort | tax treatment of losses arising in loans advanced |
| topic | Loans Law and legislation South Africa |
| url | http://hdl.handle.net/11427/35416 |
| work_keys_str_mv | AT cochranegrahamdavid thetaxtreatmentoflossesarisinginloansadvanced AT cochranegrahamdavid taxtreatmentoflossesarisinginloansadvanced |