deposit received
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 396 U.S. 122 - First National Bank in Plant City v. Dickinson · 1969Most cited · 472 citing opinions
at the time a customer delivers a sum of money either to the armored truck or the stationary receptacle, the bank has, for all purposes contemplated by Congress in § 36(f), received a deposit. The money is given and received for deposit even though the parties have agreed that its technical status as a 'deposit' which may be drawn on is to remain inchoate for the brief period of time it is in transit to the chartered bank premises.