time deposit

deposit

transitive verb | \ di-ˈpä-zət \ | de·pos·it

  1. : to place for safekeeping or as security may deposit the property with the court; especially : to put in a bank account : to put in a bank account

  1. : to place (movable property) under a deposit the depository can not make use of the thing deposited —Louisiana Civil Code

deposit

noun

  1. : the state of being deposited (as in an account) holding the property on deposit — compare escrow, trust

    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 deposit that he uses in preserving his own property —Louisiana Civil Code

    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.

    b : the movable property that is the object of a deposit the depositary is bound to use the same diligence in preserving the deposit that he uses in preserving his own property —Louisiana Civil Code

  1. : an act of depositing upon the deposit of the money in the escrow account

  1. : depository night deposit