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See also:DEPOSIT (See also:Lat. depositurn, from deponere, to See also:lay down, to put in the care of) , anything laid down or separated; as in See also:geology, any See also:mass of material accumulated by a natural agency (see See also:BED), and in See also:chemistry, a precipitate or See also:matter settling from a See also:solution or suspension . In banking, a See also:deposit may mean, generally, a sum of See also:money lodged in a See also:bank without regard to the conditions under which it is held, but more specially money lodged with a bank on " deposit See also:account " and acknowledged by the banker by a " deposit See also:receipt " given to the depositor . It is then not See also:drawn upon by See also:cheque, usually bears See also:interest at a See also:rate varying from See also:time to time, and can only be withdrawn after fixed See also:notice . Deposit is also used in the sense of See also:earnest or See also:security for the performance of a See also:contract . In the See also:law of See also:mortgage the deposit of See also: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 See also:simple See also:bailment is delivery or bailment of goods in See also:trust to be kept without recompense, and redelivered on demand (see BAILMENT) . |
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