stakeholder

A third person chosen by two or more persons to keep in deposit property the right or possession of which is contested between them, and to be delivered to the one who shall establish his right to it. Thus, each of them is considered as depositing the whole thing. This distinguishes this contract from that which takes place when two or more tenants in common deposit a thing with a bailee. Domat, Lois Civ. liv. 1, tit. 7, §4; 1 Vern. 44, note 1. A person having in his hands money or other property claimed by several others is considered in equity as a stakeholder. 1 Vern. 144. The stakeholder cannot be regarded as a party to an illegal contract, or in _ pari delicto. He is a mere depositary, with a naked authority to deliver it over on the proposed contingency. If the authority is actually revoked before the money or thing is paid over or delivered, it remains a naked deposit to the use of the depositor. 32 111. App. 116; 2 111. 32.

A third person chosen by two or more persons to keep in deposit property the right or possession of which is contested between them, and to be delivered to the one who shall establish his right to it. Thus, each of them is considered as depositing the whole thing. This distinguishes this contract from that which takes place when two or more tenants in common deposit a thing with a bailee. Domat, Lois Civ. liv. 1, t. 7, s. 4. A person having in his hands money or other property claimed by several others is considered in equity as a stakeholder. 1 Vern. 144. A mere depositary for both parties of the money advanced by them respectively with a naked authority to deliver it over upon the proposed contingency. He is not regarded as a party to the illegal contract. Fifeher v. Hildreth, 117 Mass. 562. The duties of a stakeholder are to deliver the thing holden by him to the person entitled to it on demand. It is frequently questionable who is entitled to it In case of an unlawful wager, although he may be justified in delivering the thing to the winner, by the express or implied consent of the loser; Mc- Cullum v. Gourlay, 8 Johns. (N. Y.) 147; yet if before the event has happened he has been required by either party to give up the thing deposited with him by such party, he is bound so to deliver it; 3 Taunt. 377; 4 id. 492; or if, after the event has happened, the losing party give notice to the stakeholder not to pay the winner, a payment made to him afterwards will be made in his own wrong, dnd the party who deposited the money or thing may recover it from the stakeholder; Mc Allister v. Hoffman, 16 S. & R. (Pa.) 147, 16 Am. Dec. 556; 7 Term 536; 2 Marsh. 542. See Brush v. Keeler, 5 Wend. (N. Y.) 250; Corley v. Berry, 1 Bail. (S. C.) 593; Wageb; Horse Race. A deposit of stakes by one of the parties in a match may be recovered back on demand from the stakeholder, as upon a void contract on notice given at any time before payment to the winner; 1 Q. B. D. 189; 5 App. Ca. 342, overruling 5 C. B. 818; [1900] 2 Q. B. 497.

A depositary of money deposited by parties, with a naked authority to deliver to one of them upon a certain contingency.

contracts, is a third person, chosen by two or more persons, to keep in deposit property, the right or possession of which is contested between them, and to be delivered to the one who shall establish his right to it. Thus each of them is considered as depositing the whole thing. This distinguishes this contract from that which takes place when two or more tenants in common deposit a thing with a bailee. Domat, Lois Civ. liv. 1, t.7, 8.4; 1 Vern. R. 144, n. (1.) A person having in his hands money or other property claimed by several others, 1s considered in equity as a stakeholder. 1 Vern. R. 144.