Depositum refers to a legal arrangement where one party, known as the bailor, entrusts their goods to another party, called the depositary, without expecting any payment in return. This agreement is often referred to as a bailment. The depositary is responsible for keeping the goods safe until the bailor requests their return.
Depositum is primarily used in civil law contexts, particularly in cases involving property and contracts. It is relevant in various legal areas, including:
Users can manage depositum arrangements using legal templates available through US Legal Forms, which are drafted by qualified attorneys to ensure compliance with applicable laws.
Here are a couple of examples of abatement:
Example 1: A person leaves their bicycle with a friend for safekeeping while they are on vacation. The friend is the depositary and must take care of the bicycle until it is returned to the owner.
Example 2: A storage company stores a customer's furniture without charging a fee. The storage company acts as the depositary and is responsible for the safety of the furniture. (hypothetical example)
Examples of state differences (not exhaustive):
| State | Legal Considerations |
|---|---|
| California | Depositum laws are governed under the California Civil Code. |
| New York | New York has specific statutes detailing the responsibilities of depositaries. |
| Texas | Texas recognizes depositum but may have different liability standards for depositaries. |
This is not a complete list. State laws vary, and users should consult local rules for specific guidance.
| Term | Definition | Key Differences |
|---|---|---|
| Bailment | The act of placing property in the temporary custody of another. | Depositum is a type of bailment without compensation. |
| Bailor | The person who owns the goods and delivers them to the depositary. | Bailor is a key party in a depositum arrangement. |
If you are considering a depositum arrangement, ensure you have a clear agreement with the depositary outlining responsibilities and expectations. You can use US Legal Forms to find templates that help create a formal agreement. If your situation is complex or involves significant value, consulting a legal professional may be advisable.
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Depositum is a type of bailment that is specifically without compensation.