Chapter 40

COL12010618GCA BUSINESS STRUCTURE &FUNCTION CH.40DEPOSIT IN GENERAL 1PART 3 DEPOSIT Chapter 40. Deposit in General. Chapter 41. Deposit for Keeping. Chapter 42. Deposit for Exchange. CHAPTER 40 DEPOSIT IN GENERAL Article 1. Nature & Creation of Deposit. Article 2. Obligations of the Depositary . ARTICLE 1 NATURE &CREA TION OF DEPOSIT § 40101. Kinds of Deposit. § 40102. Voluntary Deposit. § 40103. Involuntary Deposit. § 40104. Duty of Involuntary Depositary . § 40105. Deposit for Keeping. § 40106. Deposit for Exchange. § 40101. Kinds of Deposit. A deposit may bevoluntary or involuntary , and for safekeeping or for exchange. SOURCE: CC § 1813. § 40102. V oluntary Deposit. A voluntary deposit is made by one giving to another , with his consent, the posses sion of personal property to keep for the benefit of the owner, or of a third party . The person giving is called the depositor, and the person receiving the depositary . SOURCE: CC § 1814. § 40103. Involuntary Deposit. COL12010618GCA BUSINESS STRUCTURE &FUNCTION CH.40DEPOSIT IN GENERAL 2An involuntary deposit is made: 1. By the accidental leaving or placing of personal property in the possession of any person, without negligence on

SINESS STRUCTURE &FUNCTION CH.40DEPOSIT IN GENERAL 2An involuntary deposit is made: 1. By the accidental leaving or placing of personal property in the possession of any person, without negligence on the part of its owner; or 2. In cases of fire, shipwreck, inundation, insurrec tion, riot, or like extraordinary emergencies, by the owner of personal prop erty committing it, out of necessity , to th e care of any person. SOURCE: CC § 1815. § 40104. Duty of Involuntary Depositary. The person with whom a thing is deposited in the manner described in the last section is bound to take charge of it, if able to do so. SOURCE: CC § 1816. § 40105. Deposi t for Keeping. A deposit for keeping is one in which the depositary is bound to return the identical thing deposited. SOURCE: CC § 1817. § 40106. Deposit for Exchange. A deposit for exchange is one in which the depositary is only bound to return a thin g corresponding in kind to that which is deposited. SOURCE: CC § 1818. ----------- ARTICLE 2 OBLIGATIONS OF THE DEPOSIT ARY § 40201. Depositary to Deliver on Demand. § 40202. No Obligation Without Demand. § 40203. Place of Delivery . § 40204. Notice: Adverse Claim. § 40205.

------- ARTICLE 2 OBLIGATIONS OF THE DEPOSIT ARY § 40201. Depositary to Deliver on Demand. § 40202. No Obligation Without Demand. § 40203. Place of Delivery . § 40204. Notice: Adverse Claim. § 40205. Notice to Owner; W rongfully Detained. § 40206. Delivery; Jointly Owner . COL12010618GCA BUSINESS STRUCTURE &FUNCTION CH.40DEPOSIT IN GENERAL 3§ 40207. Joint Deposits. § 40201. Depositary to Deliver on Demand. A depositary must deliver the thing to the person for whose benefit it was deposited, on demand, whether the deposit was made for a specific time or not, unless he has a lien upon the thing deposited, or has been forbidden or prevented from doing so by the real owner thereof, or by the act of the law, and has given the notice required by § 40204. SOURCE: CC § 1822. § 40202. No Obligation Without Demand. A depositary is not bound to deliver a thing de posited without demand, even where the deposit is made for a specified time. SOURCE: CC § 1823. § 40203. Place of Delivery. A depositary must deliver the thing deposited at his residence or place of business, as may be most convenient for him. SOURCE: CC § 1824. § 40204. Notice: Adverse Claim.

§ 40203. Place of Delivery. A depositary must deliver the thing deposited at his residence or place of business, as may be most convenient for him. SOURCE: CC § 1824. § 40204. Notice: Adverse Claim. A depositary must give prompt notice to the person for whose benefit the deposit was made, of an y proceedings taken adversely to his interest in the thing deposited, which may tend to excuse the deposi taryfrom delivering the thing to him. SOURCE: CC § 1825. § 40205. Notice to Owner; Wrongfully Detained. A depositary , who believes that a thing de posit ed with him is wrongfully detained from its true owner, may give him notice of the deposit; and if within a reasonable time afterwards he does not claim it, and sufficiently establish his right thereto, and indemnify the depositary against the claim of the depositor, the depositary is exonerated from liability to the person to whom he gave the notice, upon returning the thing to the depositor , or assuming, in good faith, a new obligation changing his position in respect to the thing, to his prejudice. SOURCE: CC § 1826. COL12010618GCA BUSINESS STRUCTURE &FUNCTION CH.40DEPOSIT IN GENERAL 4§ 40206. Delivery; Jointly Owner .

obligation changing his position in respect to the thing, to his prejudice. SOURCE: CC § 1826. COL12010618GCA BUSINESS STRUCTURE &FUNCTION CH.40DEPOSIT IN GENERAL 4§ 40206. Delivery; Jointly Owner . If a thing deposited is owned jointly or in common by persons who cannot agree upon the manner of its delivery , the depositary may deliver to each his proper share thereof, if it can be done without injury to the thing. SOURCE: CC § 1827. § 40207. Joint Deposits. When a deposit is made in the name of two or more persons, deliv - erable or payable to either or to their survivor or survivors, such deposit or any part thereof may be delivered or paid to either of said per sons or to the survivor or survivors in the course of business. SOURCE: CC § 1828. NOTE: No 1970 Civil Code '§ 1829 -1832 existed. ----------COL12010618GCA BUSINESS STRUCTURE &FUNCTION CH.40DEPOSIT IN GENERAL