Contract law. Bank deposit agreement (most important)

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Contract law. Bank deposit agreement (most important)

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56. BANK DEPOSIT AGREEMENT

On bank deposit agreement one party (bank) that has accepted the amount of money (deposit) received from the other party (depositor) or received for it, undertakes to return the deposit amount and pay interest on it on the terms and in the manner prescribed by the agreement.

The bank deposit agreement is:

1) real - is considered concluded and gives rise to the rights and obligations of the parties only from the moment the depositor makes a sum of money (deposit) in the bank;

2) unilateral - gives rise only to the right of the depositor to demand the return of the amount of money contributed, as well as the payment of interest and the corresponding obligation of the bank;

3) compensated - the payment of interest corresponds to the deposit of funds;

4) public - the bank must accept a deposit from everyone who applies to it (if the depositor is a citizen).

Parties to the agreement:

1) bank;

2) contributor - any natural or legal person.

subject of a contract - money (deposit). The amount of money can be expressed in rubles or foreign currency.

An essential term of the contract bank deposit is the subject.

Feature of the contract - along with the subject, its essential condition is the indication of the name of the citizen or the name of the legal entity in whose favor the contribution is made.

A bank deposit agreement in favor of a citizen who has died by the time the agreement is concluded, or a legal entity that does not exist at that time, is void.

Form of contract : written. The form of the bank deposit agreement is considered to be complied with if the deposit is certified:

1) savings book - a document that draws up the conclusion of a bank deposit agreement with a citizen and certifies the movement of funds in his deposit account;

2) savings or deposit certificate - a registered or bearer security, certifying the amount of a deposit in a bank, the presentation of which is the basis for paying its holder the amount of the deposit and interest on it;

3) another document issued by the bank to the depositor that meets the requirements stipulated for such documents by the law, the banking rules established in accordance with it and the customs of business turnover applied in banking practice.

Bank Responsibilities:

1) accept a deposit;

2) to issue the amount of money within the period specified by the agreement;

3) keep the secret of the bank deposit;

4) pay interest on the deposit.

Contributor's rights:

1) has the right to demand the return of the deposit;

2) have the right to demand payment of interest on the deposit;

3) have the right to receive funds received from third parties to their account.

Author: Rezepova V.E.

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