Deposit - Voluntary Deposit Flashcards
What is a voluntary deposit?
A voluntary deposit is where a delivery is made by the will of the depositor. A deposit may also be made by two or more persons each of whom believes himself to be entitled to the thing deposited with a third person, who shall deliver it in a proper case to the one to whom it belongs.
As to the form of a contract of deposit, what is the rule?
A contract of deposit may be entered into orally or in writing.
With regards to the capacity of the contracting parties in a contract of voluntary deposit, what is the rule?
If the depositor is incapacitated while the depositary is capacitated, the latter may be subject to all the obligations of a depositary and may be compelled to return the thing by the depositor’s guardian or administrator, or the depositor himself if he acquires capacity.
If the depositor is capacitated and the depositary is not, the depositor only has an action to recover the thing while it is in possession of the depositary, or to compel the depositary to pay him the amount by which he may have enriched or benefited himself with the thing or its price. However, if a third person who acquired the thing acted in bad faith, the depositor may bring an action against him for its recovery.
Can a depositary deposit the thing to a third person?
Generally, a depositary cannot deposit the thing to a third person.
Exception to this rule is when it is allowed. However, the depositary will be liable for the loss of the thing if the third person is manifestly careless or unfit. On the same note, the depositary is responsible for the negligence of his employees.
What is the primary obligation of the depositary?
The depositary is obliged to keep the thing safely and return it when required, to the depositor, or to the depositor’s heirs and successors, or to the person designated in the contract.
The thing must be returned upon demand, even though there is a stipulated period or time to when it must be returned. Except if the thing is judicially attached, or a third person opposed to its return.
What is the obligation of the depositary if he holds certificates, bonds, securities or instruments earning interests?
The depositary who holds certificates, bonds, securities, or instruments earning interests is obliged to collect the same when it becomes due.
Can a depositary commingle grain or other articles of the same kind and quality? If so, what is its effect?
The rule is, unless there is a stipulation to the contrary, a depositary may commingle grain and other articles of the same kind or quality.
The effect of this is, the various depositors shall own or have an appropriate interest in the mass.
Can a depositary make use of the thing deposited?
Generally, a depositary cannot make use of the thing deposited.
Exceptions are:
(a) He is expressly permitted by the depositor.
(b) The preservation of the thing requires that it must be used, but only for that purpose.
If the depositary makes use of the thing without the express permission of the depositor, he is liable for damages.
What if the depositary has permission to use the thing? What is its effect to the contract?
Generally, if the depositary has express permission to use the thing deposited, the contract ceases to be a contract of deposit, and becomes a contract of loan or commodatum.
Exception is, if the deposit of the thing is still the principal purpose of the contract.
When does a depositary becomes liable for the loss of the thing through a fortuitous event?
A depositary is liable for the loss of the thing through a fortuitous event:
(a) If stipulated
(b) If he uses the thing without depositor’s permission
(c) If he delays in its return
(d) If he allows others to use it, even though the depositary himself is authorized to use the same
What is the rule if the thing deposited is delivered closed and sealed?
If the thing is delivered closed and sealed, it must be returned as such by the depositary in the same condition.
The depositary will be liable for damages if the lock or seal is broken through his fault. Nevertheless, if this happens, he shall keep the secret of the deposit.
When can a depositary open a locked box or receptacle?
A depositary is presumed to have the authority to open a locked box or receptacle if:
(a) The key is delivered to him
(b) The instructions of the depositor with regards to the thing deposited cannot be executed without opening the box or receptacle
What if the thing deposited has accessories, products, or accession?
The depositary must return the thing deposited together with its products, accessories, or accessions.
If the deposit consists of money, the provisions regarding agents applies to the depositary.
With regards to the ownership of the thing deposited, what is the rule?
Generally, a depositary cannot demand the depositor to prove the latter’s ownership over the thing deposited.
However, if the depositary has knowledge that the thing is stolen and who its true owner is, the depositary must advise the true owner regarding the deposit.
If the true owner does not claim the thing loaned within one month despite the information, the depositary shall be relieved of all responsibility by returning the thing to the depositor.
If the depositary has reasonable grounds to believe that the thing has not been lawfully acquired by the depositor, the depositary may return the same.
What is the rule if there are two or more depositors?
When there are two or more depositors, if they are not solidary, and the thing admits of division, each cannot demand more than his share.
If there is stipulation that the thing should be returned to one of the depositors, the depositary shall only return it to the person designated.
