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DEPOSITUM Definition & Legal Meaning

Law dictionary entry - legal definition of embargo

Definition & Citations:

Lat. In the civil law. One of the forms of the contract of bailment,being a naked bailment of goods to be kept for the use of the bailor without reward.Foster v. Essex Bank, 17 Mass. 498, 9 Am. Dec. ICS; Coggs v. Bernard, 2 Ld. Raym.912. See DEPOSIT.One of the four real contracts specified by Justinian, and having the followingcharacteristics: (1) The depositary or depositee is not liable for negligence, howeverextreme, but only for fraud, dolus; (2) the property remains in the depositor, thedepositary having only the possession, I’recarium and sequcstre were two varieties ofthe depositum.

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