Borrowing (ariyah) is a contractual arrangement by which one hands over possession of a specific tangible item to another person in order for the latter to derive some benefit from it for free, with the subsistence of the borrowed item – i.e. it does not perish by being borrowed and used. This is formed by any means that indicates it, whether by word or conduct.
Ruling 483: It is necessary for the lender to have discretion in his affairs and have the right of disposal.
Ruling 484: The borrower can benefit from the borrowed item only in the manner authorized. Therefore, he is not liable for any loss except in the following cases:
(1) If the borrowed items are gold or silver, as they will be guaranteed by the borrower in all cases, unless otherwise agreed.
(2) If the borrower uses the borrowed items in a way beyond what has been authorized, or he acts negligently with regards to them.
(3) If both parties agree that the borrower is liable. .
Ruling 485: As the contract of borrowing is not binding, either of the borrower or lender can leave it at any time, unless there is an agreed condition stating otherwise, and unless the item borrowed would require a specific time period for its proper usage and the usage has actually begun. For example, if a person has borrowed a pot to cook some food which requires a certain time, the lender cannot take it back once the cooking has begun and until the cooking is completed in the expected time-frame.