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 ?
And when I returned new drifts would have formed, through which I floundered, where the busy northwest wind had been depositing the powdery snow round a sharp angle in the road, and not a rabbit's track, nor even the fine print, the small type, of a meadow mouse was to be seen.
It was in this state that Master Tom lay at half-past seven on the morning following the day of his arrival, and from his clean little white bed watched the movements of Bogle (the generic name by which the successive shoeblacks of the School-house were known), as he marched round from bed to bed, collecting the dirty shoes and boots, and depositing clean ones in their places.
We worked feverishly at carrying our plunder on deck and depositing it amidships, so feverishly that Maud, whose strength was hardly a positive quantity, had to give over, exhausted, and sit on the steps at the break of the poop.
It was noon when I awoke, and allured by the warmth of the sun, which shone brightly on the white ground, I determined to recommence my travels; and, depositing the remains of the peasant's breakfast in a wallet I found, I proceeded across the fields for several hours, until at sunset I arrived at a village.
After depositing Razumov at the gates of the Chateau Borel, some half a mile or so from the town, the car continued its journey between two straight lines of shady trees.