How to link taxonomy term with current loaded NID? I want to link taxonomy term with current loaded node 
I am using 

$nid = arg(1);
$term=taxonomy_term_load($tid)
print $term;


but noting happened. 
Please tell what is the correct way
$nid = arg(1);
$node = node_load($nid);
//field_taxonomy is the taxonomy field used in the node
$tid = $node-&gt;field_taxonomy['und'][0]['tid'];
$term=taxonomy_term_load($tid)
print $term;