What is "in deposit"

Deposit \De*pos"it\, n. [L. depositum, fr. depositus, p. p. of deponere: cf. F. d['e]p[^o]t, OF. depost. See Deposit, v. t., and cf. Depot.]

1. That which is deposited, or laid or thrown down; as, a deposit in a flue; especially, matter precipitated from a solution (as the siliceous deposits of hot springs), or that which is mechanically deposited (as the mud, gravel, etc., deposits of a river).

   The deposit already formed affording to the succeeding portion of the charged fluid a basis.
   --Kirwan.

2. (Mining) A natural occurrence of a useful mineral under the conditions to invite exploitation.
   --Raymond.

3. That which is placed anywhere, or in any one's hands, for safe keeping; something intrusted to the care of another; esp., money lodged with a bank or banker, subject to order; anything given as pledge or security.

4. (Law)

   1. A bailment of money or goods to be kept gratuitously for the bailor.

   2. Money lodged with a party as earnest or security for the performance of a duty assumed by the person depositing.

5. A place of deposit; a depository. [R.]

   Bank of deposit. See under Bank.

   In deposit, or On deposit, in trust or safe keeping as a deposit; as, coins were received on deposit.