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Deposits in Court

The payments of funds or property to an officer of the court as a precautionary measure during the pendency of litigation.

The amount placed with the court constitutes the acknowledged liability of a person who is uncertain as to whom he or she is liable. The ascertainment of the court as to who is entitled to the property is binding.

This term also encompasses payment into court pursuant to court order.

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Law Library - American Law and Legal InformationFree Legal Encyclopedia: Deed of covenant to Direct Tax