Definition
of DEPOSIT
A deposit is constituted from the moment a
person receives a thing belong to another, with the obligation of safely
keeping it and of returning the same. If the safekeeping of the thing
delivered is not the principal purpose of the contract, there
is no deposit but some other contract.
NOTE: it is essential
that the depository is not the owner of the thing deposited
What are the Characteristics
of Deposit?
1.
real - because it is perfected only by the delivery of the
subject matter BUT an agreement to constitute a deposit is binding and
enforceable, since it is merely consensual
2.
unilateral - if gratuitous
3.
bilateral - if with compensation
What are the distinctions between deposit,
mutuum and commodatum?
Deposit
|
Mutuum
|
Commodatum
|
Principal purpose is safekeeping
or mere custody
|
Principal purpose is consumption
|
Principal purpose is transfer of use
|
Can demand return of the subject
matter at will
|
Lender must wait until expiration
of period granted to debtor
|
May demand return at will (PRECARIUM) or only after the
expiration of the period or accomplishment of the use of the thing subject to
exceptions
|
Both movable and immovable may be
the object
But in extrajudicial deposit, only s movable (corporeal)
thing may be the object
|
Only money and any other fungible
thing may be the object
|
Both movable and immovable may be the object
|
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