Deposit (Involuntary) - Definition - Law Dictionary

Definition :

Deposit (Involuntary), where a chattel is sent, without request or arrangement, by one person to another who does not hold himself out as willing to receive it, the person to whom it is sent is under no liability to the sender for its safe custody or protection, but must not use it or otherwise convert it to his own use, Halsbury's Laws of England (2), para 1810, p. 37.

Means a sum of money paid on terms: (1) under which it will be repaid, with or with out interest or a premium and either on demand or at a time or in circumstances agreed by or on behalf of the person making the payment and the person receiving it, and (2) which are not referable of the provision of property or services or the giving of security; and references in the Act to money deposited and to the making of a deposit are to be construed accordingly, (Banking Act, 1987) Halsbury's Laws of England 3(1), para 24, p. 20.