Simple English definitions for legal terms
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Term: DEPOSIT
Definition: A deposit is when you give your money or other things of value to someone else who promises to keep it safe and give it back to you when you need it. This is often done by putting your money in a bank so that it is safe and easy to access when you need it.
Definition: The act of giving money or other property to another who promises to preserve it or to use it and return it in kind; especially, the act of placing money in a bank for safety and convenience.
Examples:
The examples illustrate the definition of deposit by showing different situations where someone gives money or property to another person or organization for safekeeping or as a sign of commitment. In each example, the person making the deposit expects to get their money or property back at some point in the future.