Overt or implied contract requiring a lender to deliver to a borrower specific consumable goods, like food, fuel, or material. A type of lend lease. Within a defined or agreed-to period of time, the borrower returns an equal amount of the consumables, as required, to the lender.

More On This Topic

Link to This Definition
Did you find this definition of LOAN FOR CONSUMPTION helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary