deposit


deposit
de·pos·it 1 /di-'pä-zət/ vt
1: to place for safekeeping or as security
may deposit the property with the court; esp: to put in a bank account
2 in the civil law of Louisiana: to place (movable property) under a deposit
the depository can not make use of the thing deposit edLouisiana Civil Code
de·pos·i·tor /di-'pä-zə-tər/ n
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demand deposit: a bank deposit that can be withdrawn without prior notice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time deposit: a bank deposit that can be withdrawn only after a set period of time or with prior notice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 propertyLouisiana Civil Code
4: an act of depositing
upon the deposit of the money in the escrow account
night deposit

Merriam-Webster’s Dictionary of Law. . 1996.

deposit
I noun accumulation, collateral, collateral security, depositum, down payment, earnest pledge, forfeit, gage, guarantee, installment, money in bank, part payment, pawn, payment, pledge, retainer, security, stake, surety associated concepts: binder, certificate of deposit, earnest money, escrow, interpleader, savings deposit, security deposit, time deposit II (place) verb deponere, dump, install, lay, locate, lodge, place in a receptacle, plant, put, quarter, reposit, rest, set, settle, situate, stash, store, stow III (submit to a bank) verb bank, commit, enter into an account, entrust, invest, keep an account, lay by, present money for safekeeping, put at interest, save associated concepts: interpleader, stake IV index alluvion, binder, down payment, embed, fund, garner, handsel, hoard, installment, keep (shelter), leave (allow to remain), locate, pawn, pay, plant (place firmly), pledge (security), replenish, repose (place), reserve, security (pledge), store (depository), store, treasury

Burton's Legal Thesaurus. . 2006


deposit
A sum of money which is kept by one person as security to be applied towards costs which another person incurs. The person holding the funds is often the person to whom the relevant amount will become owing but it is safer to use an independent third party such as a solicitor.

Easyform Glossary of Law Terms. — UK law terms.


deposit
1. the act of placing money with a bank. Thus, a deposit account is a bank account that pays interest but that imposes the requirement of notice (or a penalty in terms of interest) before withdrawal can be effected; a deposit receipt is an acknowledgement by the bank that sums have been deposited and are being held for the account of the depositor; a certificate of deposit is a financial instrument providing a similar acknowledgement but where the claim of the depositor is transferable. The Banking Act 1987 provides that the acceptance of a deposit in the course of carrying on a deposit-taking business in the UK requires authorisation from the Bank of England as competent authority. (see further SCF Finance Ltd v. Masri (No. 2) [1987] 2 WLR 58.)
2. to place documents with a bank or safety deposit company for safekeeping; or the placing of property with an officer of the court for safekeeping pending litigation.
3. money paid to a person as an earnest or security for the performance of a contract or other obligation. Thus, in contracts for the sale of land, a deposit is regarded not only as part-payment of the purchase price but as a security for the purchaser's due completion of the purchase (see Soper v . Arnold (1889) 14 App. Cas. 429). In Scotland the position is that the contract is construed to determine the parties' intentions in making the payment.
4. a deposit of title deeds as security for the repayment of borrowed money has long been held to constitute an equitable mortgage (see Ex p Kensington (1813) 2 Ves. & B 79, 84).
5. in Scotland, a contract to place something in the custody of another for reward.

Collins dictionary of law. . 2001.


deposit
n. The act of placing money or property with another who will hold it in trust, or who has a fiduciary duty with regard to it, or otherwise will hold and manage it for the benefit of the owner; the money or property so placed.

Webster's New World Law Dictionary. . 2000.

Synonyms:

Look at other dictionaries:

  • Deposit — may refer to: Deposit (town), New York Deposit (village), New York Deposit account, a bank account that allows money to be deposited and withdrawn by the account holder Demand deposit, the funds held in demand deposit accounts in commercial banks …   Wikipedia

  • Deposit — De*pos it, n. [L. depositum, fr. depositus, p. p. of deponere: cf. F. d[ e]p[^o]t, OF. depost. See {Deposit}, v. t., and cf. {Depot}.] 1. That which is deposited, or laid or thrown down; as, a deposit in a flue; especially, matter precipitated… …   The Collaborative International Dictionary of English

  • deposit — n Deposit, precipitate, sediment, dregs, lees, grounds mean matter which settles to the bottom of or is let fall from suspension in a fluid (as air or water). Deposit, the most comprehensive term, refers to matter let fall by a natural or… …   New Dictionary of Synonyms

  • déposit — ● déposit nom masculin (anglais deposit, dépôt) En Bourse, synonyme de couverture. ● déposit (synonymes) nom masculin (anglais deposit, dépôt) Synonymes : couverture …   Encyclopédie Universelle

  • deposit — ► NOUN 1) a sum of money placed in a bank or other account. 2) a sum payable as a first instalment or as a pledge. 3) a returnable sum paid to cover possible loss or damage. 4) a layer or body of accumulated matter. 5) the action or an act of… …   English terms dictionary

  • Deposit — De*pos it, v. t. [imp. & p. p. {Deposited}; p. pr. & vb. n. {Depositing}.] [L. depositus, p. p. of deponere. See {Depone}, and cf. {Deposit}, n.] 1. To lay down; to place; to put; to let fall or throw down (as sediment); as, a crocodile deposits… …   The Collaborative International Dictionary of English

  • Deposit — Deposit, NY U.S. village in New York Population (2000): 1699 Housing Units (2000): 823 Land area (2000): 1.257708 sq. miles (3.257448 sq. km) Water area (2000): 0.059620 sq. miles (0.154416 sq. km) Total area (2000): 1.317328 sq. miles (3.411864… …   StarDict's U.S. Gazetteer Places

  • Deposit, NY — U.S. village in New York Population (2000): 1699 Housing Units (2000): 823 Land area (2000): 1.257708 sq. miles (3.257448 sq. km) Water area (2000): 0.059620 sq. miles (0.154416 sq. km) Total area (2000): 1.317328 sq. miles (3.411864 sq. km) FIPS …   StarDict's U.S. Gazetteer Places

  • deposit — [n1] down payment; money saved drop, installment, money in the bank, partial payment, pledge, retainer, security, stake, warranty; concepts 340,344 Ant. debit, withdrawal deposit [n2] accumulation of solid alluvium, delta, deposition, dregs,… …   New thesaurus

  • deposit — [dē päz′it, dipäz′it] vt. [< L depositus, pp. of deponere, to put down < de , down + ponere, to put: see POSITION] 1. to place or entrust for safekeeping 2. to put (money) in a bank, as for safekeeping or to earn interest 3. to put down as… …   English World dictionary


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