ART. 2876.-If several persons have jointly borrowed the same object, they are bound for it in solido to the lender.

SECTION III.

Of the Obligations of the Lender for Use.

ART. 2877.-The lender cannot take back the thing lent, but after the time agreed on; or, if no agreement has been entered into in that respect, after it has been employed to the use for what it was borrowed.

ART. 2878.-Nevertheless, if, during the interval, or before the borrower has done with the thing, the lender be in an urgent and unforeseen need of this thing, the judge may, according to circumstances, compel the borrower to return it to him.

ART. 2879.-If, during the loan, the borrower was obliged, for the preservation of the thing, to go to some extraordinary expense, necessary, and so urgent that he could not give notice of the same to the lender, the lender shall be bound to reimburse him for the same.

ART. 2880.-When the thing lent has defects of such a nature that it may occasion injury to the person who uses it, the lender is answerable for the consequences, if he knew the defects, and did not apprise the borrower of them.

CHAPTER II.

Of the Loan for Consumption, or Mutuum.

SECTION I.

Of the Nature of the Loan for Consumption.

ART. 2881.-The loan for consumption is an agreement by which one person delivers to another a certain quantity of things which are consumed by the use, under the obligation, by the borrower, to return to him as much of the same kind and quality.

ART. 2882.-By the effect of this loan the borrower becomes the owner of the thing lent, and if it be destroyed, in whatever manner the same may have happened, the loss is on his account.

ART. 2883. Any thing which is such, that it may be returned of the same kind and quality, may be given as a loan for consumption; but things which, although of the same kind, still may differ from each other in quality, as beasts and the like, cannot be lent after this manner.

ART. 2884.-The obligation, which results from a loan of money, can never be more than the numerical sum mentioned in the contract.

If there has been augmentation or diminution in the value of the specie before the time of the payment, the debtor is bound to return nothing more than the nume, rical sum which was lent to him, in such specie as has currency at the time of the payment.

ART. 2885.-The rule in the preceding article does not take place, if the loan has been made in bullion.

ART. 2886.-If provisions have been lent, whatever be the increase or diminution of their price, the debtor is still bound to return the same quantity and quality, and he is bound to return no more.

SECTION 11.

Of the Obligations of the Lender for Consumption.

ART. 2887.-In the loan for consumption, the lender is subject to the responsibility above established with respect to the vices of the thing lent for use.

ART. 2888.-The lender cannot claim the thing lent before the time agreed on.

If no term has been agreed on for the restitution, the jugde may grant a delay according to circumstances.

ART. 2889.-No delay shall be granted, if the loan has been stipulated as exigible at will.

ART. 2890.-If it was agreed only that the borrower should pay when he could, or when he should have the

means so to do, he ought to be sentenced to pay, as soon as he appears to be able so to do.

SECTION III.

Of the Engagements of the Borrower for Consumption.

ART. 2891.-The borrower is obliged to restore the thing lent in the same quantity and condition, and at the place and time agreed on.

If no spot has been fixed on for the restitution, it must be made at the place where the loan was made.

ART. 2892.-If it be impossible for him to fulfil his engagement, he is bound to pay the value of the things lent, taking into consideration the time and place when they ought to have been returned, according to the agree

ment.

If the time and place have not been regulated, the payment is made according to the price which the thing is worth at the time and place where the demand is made.

ART. 2893.-If the borrower does not return the things lent, or their value at the time appointed, he shall be bound to pay interest from the time that a judicial demand of it has been made.

CHAPTER III.

Of Loan on Interest.

ART. 2894. It is lawful to stipulate interest for a simple loan, whether of money or other moveable things. ART. 2895.-Interest is either legal or conventional. Legal interest is fixed at the following rates, to wit: At five per cent, on all sums which are the object of a judicial demand, whence this is called judicial interest; And on sums discounted by banks, at the rate established by their charters.

The amount of the conventional interest cannot exceed ten per cent. The same must be fixed in writing; and testimonial proof of it is not admitted in any case.

ART. 2896.-The release of the principal, without any reserve as to interest, raises the presumption that it also has been paid, and operates af release of it.

TITLE XIII.

Of Deposit and Sequestration.

CHAPTER I.

Of Deposit in General, and of its Divers Kinds.

ART. 2897.-A deposit, in general, is an act by which a person receives the property of another, binding himself to preserve it and return it in kind.

ART. 2898.-There are two species of deposit :
That properly so called, and sequestration.

CHAPTER II.

Of the Deposit properly so called.

SECTION I.

Of the Nature and Essence of the Contract of Deposit.

ART. 2899.-The object of a deposit must be properly some moveable thing, but slaves also may be deposited. ART. 2900.-It is essentially gratuitous. If the person, with whom the deposit is made, receive a compensation, it is no longer a deposit, but a hiring.

ART. 2901.-The deposit is perfected only by the delivery, real or fictitious, of the thing deposited.

The fictitious delivery is sufficient, when the deposi

tary is already possessed, in some other right, of the thing agreed to be left in deposit with him.

ART. 2902.-The deposit is voluntary or necessary.

SECTION II.

Of Voluntary Deposit.

ART. 2903.-The voluntary deposit takes place by the mutual consent of the person making the deposit and the person receiving it.

ART. 2904.-The voluntary deposit can only be regularly made by the owner of the thing deposited, or with his consent, expressed or implied.

Consent is implied, when the owner has carried or sent the thing to the depositary, and the latter, knowing that the thing had been sent, has not refused to receive it.

ART. 2905.-The owner, without whose knowledge the deposit has been made, may reclaim his property in the hands of the depositary, who cannot refuse to deliver it, but must call in the person who made the deposit, that he may oppose the restitution.

ART. 2906.-The voluntary deposit can only take place between persons capable of contracting.

Nevertheless, if a person capable of contracting accept a deposit from a person who is incapable, he incurs all the obligations of a real depositary, and may be sued by the tutor or curator of the person who has made the deposit.

ART. 2907.-If the deposit was made by a person capable of contracting, to another person not having that capacity, he who has made the deposit has only an action of claim for the thing, as long as it remains in the hands of the depositary, or an action of restitution for the amount of the benefit the depositary has derived from it.