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depositary
de·pos·i·tar·y D0144700 (dĭ-pŏz′ĭ-tĕr′ē)n. pl. de·pos·i·tar·ies 1. One entrusted with something for preservation or safekeeping.2. A depository.depositary (dɪˈpɒzɪtərɪ; -trɪ) n, pl -taries1. a person or group to whom something is entrusted for safety or preservation2. (Commerce) a variant spelling of depository1de•pos•i•tar•y (dɪˈpɒz ɪˌtɛr i)
n., pl. -tar•ies. 1. one to whom anything is given in trust. 2. depository (def. 1). [1595–1605; < Late Latin dēpositārius a trustee = Latin dēposit(us) (see deposit) + -ārius -ary] Thesaurus| Noun | 1. |  depositary - a facility where things can be deposited for storage or safekeepingdepository, repository, depositarchive - a depository containing historical records and documentsbank building, bank - a building in which the business of banking transacted; "the bank is on the corner of Nassau and Witherspoon"drop - a central depository where things can be left or picked upfacility, installation - a building or place that provides a particular service or is used for a particular industry; "the assembly plant is an enormous facility"depository library, library - a depository built to contain books and other materials for reading and studylost-and-found - repository in a public building where lost articles can be kept until their owners reclaim themmuseum - a depository for collecting and displaying objects having scientific or historical or artistic valuerepertory - a storehouse where a stock of things is keptsperm bank - a depository for storing spermstorage space - the area in any structure that provides space for storagestorehouse, depot, entrepot, storage, store - a depository for goods; "storehouses were built close to the docks"treasury - a depository (a room or building) where wealth and precious objects can be kept safely |
TranslationsEncyclopediaSeedepositoryDepositary
Related to Depositary: Depositary bank, Depositary receiptDEPOSITARY, contracts. He with whom a deposit is confided or made.
2. It is, the essence of the contract of deposits that it should be gratuitous on the part 'of the depositary. 9 M. R. 470. Being a bailee without reward, the depositary is bound to slight diligence only, and he is not therefore answerable except for gross neglect. 1 Dane's Abr. c. 17, art. 2. But in every case good faith requires that he should take reasonable care; and what is reasonable care, must materially depend upon the nature and quality of the thing, the circumstances under which it is deposited, and sometimes upon the character and confidence, and particular dealing of the parties. See 14 Serg. & Rawle, 275. The degree of care and diligence is not altered by the fact, that the depositary is the joint owner of the goods with the depositor; for in such a case, if the possessor is guilty of gross negligence, he will still be responsible, in the same manner as a common depositary, having no interest in the thing. Jones' Bailm. 82, 83. As to the care which. a depositary is bound to use, see 2 Ld. Raym. 900, 914; 1 Ld. Raym. 655; 2 Kent's Com. 438; 17 Mass. R. 479, 499; 4 Burr.. 2298; 14 Serg. & Rawle, 275; Jones' Bailm. 8; Story on Bailm. Sec. 63, 64.
3. The depositary is bound to return the deposit in individuo, and in the same state in which he received it; if it is lost, or injured, or spoiled, by his fraud or gross negligence, he is responsible to the extent of the loss or injury. Jones' Bailm. 36, 46, 120; 17 Mass. R. 479; 2 Hawk. N. Car. R. 145; 1 Dane's Abr. c. 17, art. 1 and 2. He is also bound to restore, not only the thing deposited, but any increase or profits which may have accrued from it; if an animal deposited bear young, the latter are to be delivered to the owner. Story on Bailm. Sec. 99.
4. In general it may be laid down that a depositary has no, right to use the thing deposited. Bac. Abr. Bailm. D; Jones' Bailm. 81, 82; 1 Dane's Abr. c. 17, art. 11, Sec. 2. But this proposition must be received with many qualifications. There are certain cases, in which the use of the thing may be necessary for the due preservation of the deposit. There are others, again, where it would be mischievous; and others again, where it would be, if not beneficial, at least indifferent. Jones' Bailm. 81, 82; Owen's R. 123, 124; 2 Salk. 522; 2 Kent's Com. 450. The best general rule on the subject, is to consider whether there may or may not be an implied consent, on the part of the owner, to the use. If the use would be for the benefit of the deposit, the assent of the owner may well be presumed; if to his injury, or perilous, it ought not to be presumed; if the use would be indifferent, and other circumstances, do not incline either way, the use may be deemed not allowable. Jones' Bailm. 80, 81; Story on Bailm. Sec. 90; 1 Bouv. Inst. n. 1008, et seq. Depositary
DepositaryAn agent appointed for a Tender or Exchange Offer who accepts certificates from shareholders, processes them and assures that the appropriate cash or new securities are properly remitted to the tendering party.Depositary1. A person entrusted with something of value, especially an agent in an exchange offer. The depositary in this sense acts as a go-between for the persons or firms making a transaction, ensuring that all securities and/or cash are given to the appropriate recipients.
2. A person or firm who keeps assets or securities on behalf of a client; for example, a bank. See also: Depository.depositary
Related to depositary: Depositary bank, Depositary receiptSynonyms for depositarynoun a facility where things can be deposited for storage or safekeepingSynonyms- depository
- repository
- deposit
Related Words- archive
- bank building
- bank
- drop
- facility
- installation
- depository library
- library
- lost-and-found
- museum
- repertory
- sperm bank
- storage space
- storehouse
- depot
- entrepot
- storage
- store
- treasury
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