Text of the provision
Art. 1962. A deposit is constituted from the moment a person receives a thing belonging to another, with the obligation of safely keeping it and of returning the same. If the safekeeping of the thing delivered is not the principal purpose of the contract, there is no deposit but some other contract.
(1758a)
Civil Code of the Philippines, Republic Act No. 386, approved June 18, 1949, effective August 30, 1950. Reproduced in full; verified verbatim against the LawPhil and ChanRobles official-text renderings.
What this article means
A deposit arises when a person receives another's thing with the obligation of safely keeping and returning it. If safekeeping is not the principal purpose, it is some other contract, not a deposit.
Related provisions
- Article 1960 — Payment of Interest Not Stipulated.
- Article 1963 — Deposit Perfected by Delivery.
Cases citing this article
- Bank Of The Philippine Islands vs. Jesusa P. Reyes, et al, G.R. No. 157177, February 11, 2008 — read the decision on LawPhil →
- Superlines Transportation Co., Inc. vs. PNCC, et al, G.R. No. 169596, March 28, 2007 — read the decision on LawPhil →
Compiled automatically from Supreme Court decisions published on LawPhil that expressly cite this article, most frequently cited first. A listing means the decision cites the provision — it is not a statement that the case is the leading authority, and it does not show whether a ruling has since been modified or abandoned. Always read the decision itself.