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FINDLAW LEGAL DICTIONARY

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Deposit

deposit vt

1 : to place for safekeeping or as security [may 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 ed "Louisiana Civil Code "]
de·pos·i·tor [di-pÄ -zə-tər]
n

n 1 : the state of being deposited (as in an account) [holding the property on ] 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: a bank deposit that can be withdrawn without prior notice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: a bank deposit that can be withdrawn only after a set period of time or with prior notice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 NOTE: 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 NOTE: Like the common-law bailment, the civil law deposit requires either actual or constructive delivery.

necessary deposit
: a deposit compelled by a sudden emergency NOTE: 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 NOTE: 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 that he uses in preserving his own property "Louisiana Civil Code "]
4 : an act of depositing [upon the of the money in the escrow account]
5 : depository [night ]



Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.