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Obligation vs Loan - What's the difference?

obligation | loan |

As nouns the difference between obligation and loan

is that obligation is the act of binding oneself by a social, legal, or moral tie to someone while loan is (banking|finance) a sum of money or other valuables or consideration that an individual, group or other legal entity borrows from another individual, group or legal entity (the latter often being a financial institution) with the condition that it be returned or repaid at a later date (sometimes with interest) or loan can be (scotland) a lonnen.

As a verb loan is

to lend (something) to (someone).

obligation

English

(wikipedia obligation)

Noun

(en noun)
  • The act of binding oneself by a social, legal, or moral tie to someone.
  • A social, legal, or moral requirement, duty, contract, or promise that compels someone to follow or avoid a particular course of action.
  • A course of action imposed by society, law, or conscience by which someone is bound or restricted.
  • (legal) A legal agreement stipulating a specified payment or action; the document containing such agreement.
    • X shall be entitled to subcontract its obligation to provide the Support Services. <>
  • * 1668 December 19, , “Mr.'' Alexander Seaton ''contra'' Menzies” in ''The Deci?ions of the Lords of Council & Se??ion I (Edinburgh, 1683), page 575
    • The Pupil after his Pupillarity, had granted a Di?charge to one of the Co-tutors, which did extingui?h the whole Debt of that Co-tutor, and con?equently of all the re?t, they being all correi debendi , lyable by one individual Obligation , which cannot be Di?charged as to one, and ?tand as to all the re?t.

    Usage notes

    * Adjectives often used with "obligation": moral, legal, social, contractual, political, mutual, military, perpetual, etc.

    Synonyms

    * duty

    Antonyms

    * right

    Related terms

    * obligate * obligated * obligational * obligato * obligatorily * oblige * obligee * obliger * obliging * obligingly * obligingness * obligor

    loan

    English

    Etymology 1

    From (etyl) lone, lane, from (etyl) . More at (l).

    Noun

    (en noun)
  • (banking, finance) A sum of money or other valuables or consideration that an individual, group or other legal entity borrows from another individual, group or legal entity (the latter often being a financial institution) with the condition that it be returned or repaid at a later date (sometimes with interest).
  • *
    • , title=The Mirror and the Lamp , chapter=2 citation , passage=That the young Mr. Churchills liked—but they did not like him coming round of an evening and drinking weak whisky-and-water while he held forth on railway debentures and corporation loans . Mr. Barrett, however, by fawning and flattery, seemed to be able to make not only Mrs. Churchill but everyone else do what he desired.}}
  • The contract and array of legal or ethical obligations surrounding a loan.
  • The permission to borrow any item.
    • Hypernyms
    * (something that a legal entity borrows) bailment
    Hyponyms
    * (something that a legal entity borrows) mutuum
    Derived terms
    * bridge loan * caveat loan * loan shark * low-doc loan * swing loan

    Verb

    (en verb)
  • To lend (something) to (someone).
  • * 2006: — (unidentified episode, but frequently heard from her as a verb)
    • When you loan somebody something, they have the responsibility to safeguard it.
    Usage notes
    * This usage, once widespread in the UK, is now confined to the US (or perhaps parts thereof). * It is often considered preferable to use lend when the object being loaned or lent is something other than money.

    Etymology 2

    See lawn.

    Noun

    (en noun)
  • (Scotland) A lonnen.
    • (Webster 1913)

    Anagrams

    * ----