A deposit for exchange transfers to the depositary the title to the thing deposited, and creates between him and the depositor the relation of debtor and creditor merely.
Cal. Civ. Code § 1878
Deposit for Exchange
Applied in 1 court decision — leading case 81 Cal. App. 317 - National Bank of New Zealand, Ltd. v. Finn (1927)
Most recently applied in 81 Cal. App. 317 - National Bank of New Zealand, Ltd. v. Finn (February 1927)
Enacted 1872.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.