Hi,
We have said that one who borrows an item may not then lend it to someone else, if the item could be stolen by that third party.
This is true even where the loan is for the sake of a Mitzvah, such as in lending out a Torah text, so that I might have presumed that the original owner would approve of this sub-loan. One is not entitled to "read the mind" of the lender.
(Code of Jewish Law Choshen Mishpat 342:1)
Have a great day,
Mordechai
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