Qiu opened a bedding shop, and was short of funds because he didn't recover the accounts in time, so he had to borrow 654.38 million yuan from Luo to purchase goods. The two parties signed a loan contract, stipulating that Luo would remit 654.38 million yuan to Qiu's designated bank account on the day of signing the contract, and Qiu would return it to Luo together with the principal and interest three months later. However, after the signing of both parties, Luo did not transfer the money to the account designated by Qiu. At Qiu's repeated urging, Luo transferred the money a week later. When Qiu placed an order with the manufacturer, he was told that in just a few days, Qiu suddenly lost a lot because of the price increase of textile raw materials and bedding. Therefore, Qiu appealed to the court and asked Luo to bear the liability for compensation. So, will the court support Qiu's position

The lawyer replied.

For Luo, although the money was finally transferred to Qiu, according to the contract, it was only delayed for a short week. Then, according to the law, does Qiu have the right to ask Luo to bear the responsibility of compensation for losses? According to the Contract Law, if the lender fails to provide the loan according to the agreed date and amount, thus causing losses to the borrower, it shall compensate for the losses. Because Qiu's loss was really caused by Luo's delay in borrowing money, Luo should compensate Qiu's loss.

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Contract law of the people's Republic of China

Article 201 Where the lender fails to provide the loan on the agreed date and amount, thus causing losses to the borrower, it shall compensate for the losses.

If the borrower fails to collect the loan according to the agreed date and amount, it shall pay interest according to the agreed date and amount.