|v. t.||1.||To lay down; to place; to put; to let fall or throw down (as sediment); |
|2.||To lay up or away for safe keeping; to put up; to store; |
|3.||To lodge in some one's hands for safe keeping; to commit to the custody of another; to intrust; esp., to place in a bank, as a sum of money subject to order.|
|4.||To lay aside; to rid one's self of.|
|n.||1.||That which is deposited, or laid or thrown down; |
|2.||(Mining) A natural occurrence of a useful mineral under the conditions to invite exploitation.|
|3.||That which is placed anywhere, or in any one's hands, for safe keeping; something intrusted to the care of another; esp., money lodged with a bank or banker, subject to order; anything given as pledge or security.|
|4.||(Law) A bailment of money or goods to be kept gratuitously for the bailor.|
|5.||A place of deposit; a depository.|
|Noun||1.||deposit - the phenomenon of sediment or gravel accumulating|
|2.||deposit - matter deposited by some natural process|
|3.||deposit - the natural process of laying down a deposit of something|
|4.||deposit - money deposited in a bank|
Synonyms: bank deposit
|5.||deposit - a partial payment made at the time of purchase; the balance to be paid later|
Synonyms: down payment
|6.||deposit - money given as security for an article acquired for temporary use; "his deposit was refunded when he returned the car"|
|7.||deposit - a payment given as a guarantee that an obligation will be met|
|8.||deposit - a facility where things can be deposited for storage or safekeeping|
|9.||deposit - the act of putting something somewhere|
|Verb||1.||deposit - fix, force, or implant; "lodge a bullet in the table"|
|2.||deposit - put into a bank account; "She deposites her paycheck every month"|
|3.||deposit - put (something somewhere) firmly; "She posited her hand on his shoulder"; "deposit the suitcase on the bench"; "fix your eyes on this spot"|
DEPOSIT, contracts. Usually defined to be a naked bailment of goods to be
kept for the bailor, without reward, and to be returned when he shall
require it. Jones' Bailm. 36, 117; 1 Bell's Com. 257. See also Dane's Abr.
ch. 17, aft. 1, Sec. 3; Story on Bailm. c. 2, Sec. 41. Pothier defines it to
be a contract, by which one of the contracting parties gives a thing to
another to keep, who is to do so gratuitously, and obliges himself to return
it when he shall be requested. Traite du Depot. See Code Civ. tit. 11, c. 1,
art. 1915; Louisiana Code, tit. 13, c. 1, art. 2897.
2. Deposits, in the civil law, are divisible into two kinds; necessary and voluntary. A necessary deposit is such as arises from pressing necessity; as, for instance, in case of a fire, a shipwreck, or other overwhelming calamity; and thence it is called miserabile depositum. Louis. Code 2935. A voluntary deposit is such as arises without any such calamity, from the mere consent or agreement of the parties. Dig. lib. 16, tit. 3, Sec. 2.
3. This distinction was material in the civil law, in respect to the remedy, for involuntary deposits, the action was only in simplum; in the other in duplum, or two-fold, whenever the depositary was guilty of any default. The common law has made no such distinction, and, therefore, in a necessary deposit, the remedy is limited to damages co-extensive with the wrong. Jones, Bailm. 48.
4. Deposits are again divided by the civil law into simple deposits, and sequestrations; the former is when there is but one party depositor (of whatever number composed), having a common interest; the latter is where there are two or more depositors, having each a different and adverse interest. See Sequestration.
5. These distinctions give rise to very different considerations in point of responsibility and rights. Hitherto they do not seem to have been incorporated in the common law; though if cases should arise, the principles applicable to them would scarcely fail of receiving general approbation, at least, so far as they affect the rights and responsibilities of the parties. Cases of judicial sequestration and deposits, especially in courts of chancery and admiralty, may hereafter require the subject to be fully investigated. At present, there have been few cases in which it has been necessary to consider upon whom the loss should fall when the property has perished in the custody of the law. Story on Bailm. Sec. 41-46.
6. There is another class of deposits noticed by Pothier, and called by him irregular deposits. This arises when a party having a sum of money which he doe's not think safe in his own hands; confides it to another, who is to return him, not the same money, but a like sum when he shall demand it. Poth. Traite du Depot, ch. 3, Sec. 3. The usual deposit made by a person dealing with a bank is of this nature. The depositor, in such case, becomes merely a creditor of the depositary for the money or other thing which he binds himself to return.
7. This species of deposit is also called an improper deposit, to distinguish it from one that is regular and proper, and which latter is sometimes called a special deposit. 1 Bell's Com. 257-8. See 4 Blackf. R. 395.
8. There is a kind of deposit which may, for distinction's sake, be called a quasi deposit, which is governed, by the same general rule as common deposits. It is when a party comes lawfully to the possession of another person's property by finding. Under such circumstances, the finder seems bound to the same reasonable care of it as any voluntary depositary ex contractu. Doct. & Stu. Dial. 2, ch. 38; Story on Bailm. Sec. 85; and see Bac. Abr. Bailm. D. See further, on the subject of deposits, Louis. Code, tit. 13; Bac. Abr. Bailment; Digest, depositi vel contra; Code, lib. 4, tit. 34; Inst. lib. 3, tit. 15, Sec. 3; Nov. 73 and 78; Domat, liv. 1, tit. 7, et tom. 2, liv. 3, tit. 1, s. 5, n. 26; 1 Bouv. Inst. n. 1053, et seq.