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de·pos·it 1 /di-'pä-zət/ vt1: to place for safekeeping or as securitymay deposit the property with the court; esp: to put in a bank account2 in the civil law of Louisiana: to place (movable property) under a depositthe depository can not make use of the thing deposit ed — Louisiana Civil Codede·pos·i·tor /di-'pä-zə-tər/ ndeposit 2 n1: the state of being deposited (as in an account)2: something placed for safekeeping: asa: money deposited in a bank esp. to one's creditdemand deposit: a bank deposit that can be withdrawn without prior noticegeneral deposit: a deposit of money in a bank that is to the credit of the depositor thereby giving the depositor the right to money and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 relationshipspecial deposit: a deposit that is made for a specific purpose, that is to be returned to the depositor, and that creates a bailment or trusttime deposit: a bank deposit that can be withdrawn only after a set period of time or with prior noticeb: something given as security see also security deposit◇ A deposit may be applied to a purchase price or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 Louisianaa: 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 depositthe depositary is bound to use the same diligence in preserving the deposit that he uses in preserving his own property — Louisiana Civil Code4: an act of depositingupon the deposit of the money in the escrow account5: depositorynight deposit
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
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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. William C. Burton. 2006
- deposit
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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.
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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. W. J. Stewart. 2001.
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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. Susan Ellis Wild. 2000.
