deposit

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Deposit

1. An amount of money held at a financial institution on behalf of an account holder for safekeeping. For example, one may keep a deposit in one's checking account to pay for daily expenses instead of hiding one's money "under the mattress." Many deposits are insured by organizations like the FDIC to reduce their risk.

2. See: Earnest Money.

deposit

Money paid to ensure performance under a written or oral contract.Many states require that lease and other such deposits be maintained in escrow accounts and earn interest which must be paid to the party when the deposit is refunded.All real estate brokers must place earnest money deposits in escrow accounts. One must carefully examine the particular contract language relative to deposits in order to determine the circumstances under which they may be withheld from the depositor.

References in classic literature ?
But a right implies a remedy; and where else could the remedy be deposited, than where it is deposited by the Constitution?
I hurried to the treasurer's office and deposited my ten percent.
That the storm was over he was convinced, but he chafed at the inactivity the low visibility put upon him, nor did conditions better materially before night fell, so that he was forced to await the new day at the very spot at which the tempest had deposited him.
But I cannot, Master van Spennen; those papers do not belong to me; they have been deposited with me as a trust, and a trust is sacred.
It had been deposited in the safe keeping of a bank.
Good observers have estimated that sediment is deposited by the great Mississippi river at the rate of only 600 feet in a hundred thousand years.
These have been fully described by Professor Owen, in the Zoology of the voyage of the Beagle, and are deposited in the College of Surgeons.
While the conversation turned on this subject, and was only for a moment interrupted by the arrival of a journal that contained nothing worth reading, we will just step out into the antechamber, where cloaks, mackintoshes, sticks, umbrellas, and shoes, were deposited.
He therefore deposited the said half-price himself; for he was a very prudent lad, and so careful of his money, that he had laid up almost every penny which he had received from Mr Allworthy.
In that case, and in no other, certain sealed instructions relating to the disposal of the Diamond, and deposited with it, were to be opened, and followed implicitly.
I had to wait some hours; and when a later train finally deposited me at the nearest station to Limmeridge House, it was past ten, and the night was so dark that I could hardly see my way to the pony-chaise which Mr.
Pickwick, by dint of great personal exertion, bore it with his own hands to the inn, and after having carefully washed it, deposited it on the table.