Deposit

deposit

1. money given in part payment or as security, as when goods are bought on hire-purchase

2. a consideration, esp money, given temporarily as security against loss of or damage to something borrowed or hired

3. Geography an accumulation of sediments, mineral ores, coal, etc.

4. Chemistry a coating produced on a surface, esp a layer of metal formed by electrolysis

5. a depository or storehouse

6. on deposit payable as the first instalment, as when buying on hire-purchase

Deposit

 

(1) A material value (usually money or securities) handed over to a public institution and returnable under prescribed conditions to the individual who deposited it or, according to his instructions, to another person.

In the USSR, deposit operations are performed by judiciary, notarial, customs, medical, and several other institutions. Branches of the Gosbank (State Bank) of the USSR open special deposit accounts for these institutions. Courts have deposit accounts in which money is deposited in pursuance of a judicial decision for transfer to the execution creditors. Money or securities are deposited in a notary’s account if returning them personally to the creditor is impossible: the office of the notary accepts them as a deposit without challenging the grounds for the deposit. The money deposited is kept through the period of limitation of actions (if deposited by fully subsidized institutions, it is kept until the end of the given calendar year) and then is transferred as income to the state budget.

(2) Money placed in banks or savings banks is also called a deposit.

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Deposit

 

the amount of money given by one party of the contract to the other party, representing part of payments due under the contract and being an evidence of signing the contract and a security for its execution. According to Soviet civil law, the deposit is one of the means of guaranteeing the fulfillment of obligations under the contract between citizens or with their participation. The law provides for the following in the event of nonperformance of the contract: if the party that gave the deposit is responsible, the deposit remains with the other party; if the party that received the deposit is responsible, it is obliged to pay to the other party double the amount, that is, to return the deposit and to pay in addition an amount equal to the amount of the deposit. The injured party has the right to demand compensation for damages, the amount of the deposit being taken into account unless the contract provides otherwise. The agreement concerning the deposit must be in written form irrespective of the sum of the deposit.

deposit

[də′päz·ət]

(computer science)

To preserve the contents of a portion of a computer memory by copying it in a backing storage.

(geology)

Consolidated or unconsolidated material that has accumulated by a natural process or agent.

(materials)

Any material applied to a base by means of vacuum, electrical, chemical, screening, or vapor methods.

(science and technology)

Any solid matter which is gradually laid down on a surface by a natural process.