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Legal Definitions - deposit warrant

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Definition of deposit warrant

Definition: A deposit warrant is a type of warrant used as security for a loan. It is a warehouse receipt that shows that a deposit has been made and can be used as collateral for a loan.

Example: If you deposit your jewelry in a bank safe deposit box, the bank may issue you a deposit warrant that you can use as collateral for a loan.

Explanation: The deposit warrant serves as proof that the deposit has been made and can be used as collateral for a loan. If the borrower defaults on the loan, the lender can use the deposit warrant to claim the deposit as collateral.

Where you see wrong or inequality or injustice, speak out, because this is your country. This is your democracy. Make it. Protect it. Pass it on.

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Simple Definition

A deposit warrant is a piece of paper that says you can get your money back if you give it to someone to hold onto. It's like a promise that your money will be safe. A warrant is also a paper that gives permission to do something, like search a house or arrest someone. It has to be given by a judge and there has to be a good reason for it. A warrant is important because it protects people's rights and makes sure that the law is followed.
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