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Encyclopedia Britannica - Main :: DEM-DIO |
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DEPOSIT (Lat. depositurn, from deponere, to lay down, to put in the care of) , anything laid down or separated; as in geology, any mass of material accumulated by a natural agency (see BED), and in chemistry , a precipitate or matter settling from a solution or suspension. In banking, a deposit may mean, generally, a sum of money lodged in a bank without regard to the conditions under which it is held, but more specially money lodged with a bank on " deposit account " and acknowledged by the banker by a " deposit receipt " given to the depositor. It is then not drawn
cheque
interest
earnest or security for the performance of a contract . In the law of mortgage the deposit of title-deeds is usual as a security for the repayment of money advanced. Such a deposit operates as an equitable mortgage. In the law of contract , deposit or simple bailment is delivery or bailment of goods in trust to be kept without recompense, and redelivered on demand (see BAILMENT).End of Article: DEPOSIT (Lat. depositurn, from deponere, to lay down, to put in the care of) If you wish, you can link directly to this article.
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