DEPOSIT
Categories: Contracts
Definition (1910 Edition)
touching. it; and these last are of two sorts, —‘conventional,” or such as are made by the mere agreement of the parties without any judicial act; and “judicial,” or such a8 are made by order of a court in the course of some proceeding. Civ. Code La. art. 2979.
A general deposit (the ordinary form) is one which is to be repaid on demand, in whole or in part as called for, in any current money, not the same pieces of money deposited. In this case, the title to the money deposited passes to the bank, which becomes debtor to the depositor for the amount. A special deposit is one in which the depositor is entitled to the return of the identical thing deposited (gold, bullion, securities, etc.) and the title to the property remains in him, the deposit being usually made only for purposes of safe-keeping. Shipman v.
A general deposit (the ordinary form) is one which is to be repaid on demand, in whole or in part as called for, in any current money, not the same pieces of money deposited. In this case, the title to the money deposited passes to the bank, which becomes debtor to the depositor for the amount. A special deposit is one in which the depositor is entitled to the return of the identical thing deposited (gold, bullion, securities, etc.) and the title to the property remains in him, the deposit being usually made only for purposes of safe-keeping. Shipman v.
Source: Black's Law Dictionary, 2nd Edition (1910) — Public Domain.
UK commentary and modern updates are original additions. This entry is for educational
reference only and does not constitute legal advice.