nounhistorical Scots Law
A loan for use, made free of charge, on condition that the borrower returns the property loaned in the same condition in which it was received. Also as a mass noun: lending of this type.
Early 18th century; earliest use found in Ephraim Chambers (?1680–1740), encyclopaedist. From classical Latin commodātum loan, use as noun of neuter of commodātus, past participle of commodāre.