Libro Quinto Título X. Del depósito

By the contract of deposit, a person receives a thing from another for its safekeeping and preservation, with the obligation to return it when the depositor requests it, or the person in whose favor it was made, or when the judge so orders.

Delivery of the thing is not necessary when the person who has it in their possession under another title expressly accepts the deposit or by virtue of a mandate from a competent authority.

A minor who accepts the deposit is obliged to return the thing deposited if it is still in his possession, or the benefit he may have received from its alienation; and if he has acted in bad faith, he may be ordered to pay damage and losses.

The depositary has the right to demand remuneration for the deposit, unless otherwise agreed. If the parties do not reach an agreement, the judge shall fix such remuneration equitably, according to the circumstances of the case.

The obligations of the depositary are:

1°.To keep the thing deposited and to refrain from making use thereof;

2°.Not to inspect the things that have been deposited in a chest, coffer, bundle or package, closed or sealed;

3°.To give immediate notice to the depositor or, as the case may be, to the judge, of the danger of loss or deterioration of the thing deposited and of the measures that must be adopted to avoid it; and

4°.To indemnify the damage and losses suffered by the depositor through his intent or fault.

Depositaries of documents bearing interest are obligated to collect such interest on the dates of maturity thereof, as well as to perform the acts necessary for such documents to remain valid.

If through the fault of the depositary the lock or seal of a deposit made in a closed or sealed box, bale, or package, without its contents being recorded, and so accepted by the depositary, should have been broken, the sworn statement of the depositor concerning the contents shall be taken as true, while the contrary is not proved.

The depositor is obliged to pay the depositary the expenses incurred in the custody and preservation of the thing and to compensate him for the damage and losses that the deposit may have caused him.

The depositary may retain the deposited thing while the expenses or the damage and losses referred to in the preceding article have not been paid or guaranteed to him.

The deterioration or loss of the thing without fault of the depositary shall be borne by the depositor.

When at the time of entering into the contract the depositary is authorized to use the thing, and it is not a deposit of current money in credit institutions, the contract shall be a mutuum if it involves fungible things, or a commodatum if it involves things that do not perish with the first use.

The deposit made in favor of a third party, if the latter does not manifest acceptance thereof within two months from the day on which the depositor or the depositary has given him notice, may be recovered by the depositor.

If there are two or more depositors, all of them shall join to receive the deposit, and it shall not be delivered to any of them without the consent of the others.

If the deposit was made by an attorney-in-fact or administrator whose office has ended, the thing shall be returned to the owner or to his new representative.

The depositary must not return the deposit to the same person from whom the depositary received it:

1°.If the judge orders it to be retained;

2°.If it appears that the thing belonged to another person, or that it had been stolen; and

3°.If the depositor is an incapacitated person.

In the second case of the preceding article, the depositary is obligated to immediately report to the judge, for whatever may be appropriate; and in the third case, the deposit shall be returned to the person who, according to the law, represents the depositor.

Upon the death of the depositor, the deposit shall be returned to his heirs.

The return of the deposit shall be made in the same place where it was received, unless otherwise agreed.

Where there is no time limit, the depositary may return the deposited thing by notifying the depositor with prudent advance notice if the case so requires.

The deposited things shall not be moved outside the place designated in the contract, except for cause of necessity and with prior notice to the depositor.

Even where a time limit has been fixed for restitution of the deposit, it must be delivered as soon as the depositor claims it, unless the deposited thing has been moved elsewhere, in accordance with the provisions of the preceding article.

The depositary who refuses to deliver the deposit, except in the cases expressed in Article 1988, shall be liable for interest from the time of incurring in default, plus the damage and losses that may have been caused to the depositor.

The depositary has the right to be exonerated from the deposit when he can no longer keep it safely or without prejudice to himself. But if he assumed the undertaking for a price or wage, his resignation may only be admitted for an unforeseen change of circumstances in the opinion of the judge.

Things in litigation may be deposited with a third party by judicial order; but if the deposit was made by consent of the parties, it ends when they agree to put an end to it.

The judicial deposit terminates by order of a competent judge.

The deposit of money in current currency in credit institutions is subject to the provisions of special laws.

The deposit of money made with a person not authorized by law to receive it is presumed void, save evidence to the contrary.