Deposit for exchange--Transfer of title to deposit--Creation of debtor and creditor relationship.

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  5. Deposit for exchange--Transfer of title to deposit--Creation of debtor and creditor relationship.

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43-39-9. Deposit for exchange--Transfer of title to deposit--Creation of debtor and creditor relationship.

A deposit for exchange transfers to the depository the title to the thing deposited, and creates between him and the depositor the relation of debtor and creditor merely.

Source: CivC 1877, §1073; CL 1887, §3697; RCivC 1903, §1393; RC 1919, §1016; SDC 1939, §60.0102 (21).


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