Civil Transactions Law
Art. 453Status unknownSaudi ArabiaRegulation
Issued by Ministry of Investment (misa.gov.sa)
1. If the term or purpose of the loan for use is specified, the borrower shall not
be obligated to return the lent thing prior to the expiration of the term or the
lapse of the reasonable period for the utilization of the thing for similar
purposes.
2. If the term or purpose of the loan for use contract is not specified, the
borrower shall return the lent thing upon the lender’s request, unless such
return causes harm to the borrower; in such case, he shall be entitled to
retain said thing until the cause of the harm ceases to exist. If said term
exceeds the reasonable period for the utilization of a similar thing, the
borrower shall pay the prevailing market rental rate for the extra period.
Civil Transactions Law
Subsection 2: Effects of Loan for Use Contract
The Arabic text is the legally binding version. The English translation is provided for guidance only.
Freshness not yet recorded