The deposit occurs when the property is handed over to someone for custody and is a legal procedure independent of the contract or tort. To create a deposit, the bailee must both intend to possess the bondable item and physically possess it. A bail occurs when one person (a bailiff) is the legal owner of the property of another person (a judicial officer). The Deposit Act deals with critical links in the movement of goods from the manufacturer to the final consumer in a consumer society: for the storage and transport of goods. Deposits are only valid for personal property; A bailiff requires the bailiff to transfer physical control of the property to the bailiff who intends to own the property and the obligation to return it. In finance, a judicial officer can appoint a judicial officer to supervise an investment portfolio until the judicial officer can or wants to take over the portfolio management tasks. Other forms of deposit include holding guarantees against a secured loan, storage and self-storage, and shipping goods. Now, let`s say that when Mimi walked in, the salesman told her to look around, try on clothes, and put her coat on the table. When the saleswoman is done with her current client, she says, she would like to help Mimi. So Mimi tried on a jacket and found out a few minutes later that her coat was gone.

Is it a deposit? Many courts, including the courts in New York, would say no. The difference? The seller helped another customer. Therefore, Mimi had a better opportunity to look after her own coat and knew that the seller would not pay attention to it. This is a subtle distinction, but in many cases it was enough to change the verdict. Wamser v. Browning, King & Co., 79 N.E. 861 (N.Y. 1907). In the case of a deposit, the bailiff generally does not have the right to use the property as long as it is in the possession of the bailiff. This distinguishes the deposit from the rental, where the property stays with the owner, but the tenant is allowed to use the property.

Leaving your car valet parking is a common form of deposit, while parking in an unattended garage is a rental agreement or license for a parking space, as the garage cannot show the intention to own the car. A rented apartment is another example where a tenant owns and uses his apartment but does not own it. Finally, we turn to the legal relationships that buyers and sellers have with warehousekeepers and freight forwarders – the parties responsible for the physical transfer of goods from seller to buyer. This number introduces a new branch of law – that of deposits; We will investigate before contacting storekeepers and freight forwarders directly. As mentioned earlier, deposit is defined as „the lawful possession of property by someone who is not the owner.“ In most cases, this definition is clear (and note that it does not require a deposit to be created by contract). The right of deposit applies to the delivery of goods, i.e. the delivery of personal goods. Personal property is generally defined as anything that can be owned, with the exception of real estate. As we have just seen by comparing deposits with sales, the definition implies the obligation to return identical goods at the end of the deposit. In most cases, physical control is quite easily proven. A car delivered to a parking garage is obviously under the physical control of the garage.

But in some cases, physical control is difficult to conceptualize. For example, you can rent a safe in a bank to store valuable papers, share certificates, jewelry and others. The box is usually housed in the bank`s safe. To access it, sign a ledger and enter your key after a bank employee inserts the bank key. You can then inspect, complete or remove the contents of the box in the privacy of a small room held in the vault for this purpose. Since the bank can`t access the box without your key and doesn`t know what`s in the box, you could say they have no physical control. Nevertheless, renting a locker is a deposit. A New York court pointed out that if the bank is not in possession of box`s tenant`s property, „it`s hard to know who it was. Admittedly, [the tenant] was not, as she could not have access to the property without the consent and active participation of the defendant. She could not enter her safe unless the accused first used her key and then allowed her to open the box with her own key; So she absolutely controlled [her] access to what she had deposited in the safe.

The safe belonged to [the company] and was in their custody, and its contents were under the same conditions. Lockwood v. Manhattan Storage & Warehouse Co., 50 N.Y.S. 974 (N.Y. 1898). However, the bylaws of some states provide that the relationship is not a deposit, but that of a landlord and tenant, and many of these regulations limit the bank`s liability for losses. Fungible products (products identical to grain in a silo) are a particularly troublesome problem. In many cases, goods from multiple owners are mixed, and identical items are not intended for return. For example, the operator of a grain elevator agrees to return an equal amount of grain of similar quality, but not the actual grain deposited on it. According to the rule in the case of Carpenter`s cow, it looks like a sale, but it is not.

According to Articles 2 to 207 of the UCC, depositors of fungible property are „co-tenants“ of the property; In other words, goods are the property of all. This distinction between a sale and a deposit is important. If there is a loss due to natural causes – for example, if the grain carrier burns – depositors must share the loss proportionately (meaning that no depositor has the right to withdraw all of their grain; if 20 percent of the grain has been destroyed, each depositor cannot take more than 80 percent of what they deposited). Questions of intent and control often arise in parking cases. As someone once said, „The key to the problem is the key itself.“ The key is symbolic of possession and intent. If you give your key to the caregiver, you are a bailiff In addition, owner of a property who delivers it to another to keep it free on bail. And he (or the company he works for) is the bailee. If you do not give him the key, there will be no deposit.

However, many cases of parking do not fall properly under this rule. Cases of self-parking at airports are particularly common. The customer walks through a door, takes a ticket issued by an ATM, parks his car, locks it and takes his key. As he leaves, he takes the car himself and pays at an exit door. As a general rule, no deposits are created in these circumstances. The lot operator does not accept the vehicle and does not intend to monitor it as a bailiff. In fact, the operator simply rents rooms. Wall v. Airport Parking Co. of Chicago, 244 N.E.2d 190 (Fig. 1969). But a slight change in the facts can change this legal conclusion.

Suppose, for example, that the lot has a companion at the central point of entry and exit, that the guard has noted the permit number on the ticket, of which he has kept a part, and that the owner of the car must hand over the ticket when leaving or prove that he owns the car. These facts were assessed in light of the intention to exercise custody and control of the cars over the property and thus create a surety. Continental Insurance Co.c. Meyers Bros. Operations, Inc., 288 N.Y.S.2d 756 (Civ. Ct. N.Y. 1968). A suretyA delivery of goods to someone who has no goods. is the relationship that arises when someone temporarily entrusts their property to someone else without wanting to give up the title. Although it has often been said that the deposit is created only by a contract, the modern definition does not require that there be an agreement. A widely cited definition states that a deposit „is the lawful possession of property by someone who does not own it.

It is the element of legal possession, whatever its creation, and the duty to regard the thing as the property of others that creates the deposit, whether that possession is based on a contract in the ordinary sense or not. „Zuppa gegen Hertz, 268 A.2d 364 (N.J. 1970). For a deposit to exist, the lessor must know or have reason to know that the property exists. .