Akademik

deposit ² n

1: the state of being deposited (as in an account)

holding the property on deposit compare escrow, trust

2: something placed for safekeeping: as

a: money deposited in a bank esp. to one's credit

demand deposit: a bank deposit that can be withdrawn without prior notice

general deposit: a deposit of money in a bank that is to the credit of the depositor thereby giving the depositor the right to money and creating a debtor-creditor relationship

special deposit: a deposit that is made for a specific purpose, that is to be returned to the depositor, and that creates a bailment or trust

time deposit: a bank deposit that can be withdrawn only after a set period of time or with prior notice

b: something given as security see also security deposit

◇ A deposit may be applied to a purchase price or may be considered partial payment.

3 in the civil law of Louisiana

a: the gratuitous transfer of possession of movable property to another for a limited time or specified purpose such that the depositary is liable to some extent for loss or damage to the property see also sequestration compare bailment, hiring; loan for consumption and loan for use at loan

◇ Like the common-law bailment, the civil law deposit requires either actual or constructive delivery.

necessary deposit: a deposit compelled by a sudden emergency

◇ The Louisiana Civil Code deems the deposit of travelers' belongings with an innkeeper a necessary deposit.

voluntary deposit: a deposit that is made by the mutual consent of the depositor and depositary

◇ The consent required may be express or implied, and because of the requirements of consent, only persons with the capacity to contract can make a voluntary deposit.

b: the movable property that is the object of a deposit

the depositary is bound to use the same diligence in preserving the deposit that he uses in preserving his own property — Louisiana Civil Code

4: an act of depositing

5: depository