Title 44, Chapter 12, Section 113
( 44-12-113)
A loan is generally entirely for the benefit of the borrower, but
sometimes it is for the joint benefit of the lender and the borrower
and occasionally it is for the exclusive benefit of the lender.
Where the loan is for the joint benefit of the lender and the
borrower or is for the exclusive benefit of the lender, the
responsibility of the borrower is varied and less stringent
according to the circumstances and purpose of the loan. | 
