Legal Definitions - naked deposit

A naked deposit is a type of bailment where the depositor gives possession of an item to the bailee without receiving anything in return. This means that the bailee has no obligation to take care of the item or return it to the depositor.

For example, if you leave your bike in a public park without asking anyone to watch it, that is a naked deposit. You have given possession of the bike to whoever finds it, but you have not received anything in return and the finder has no obligation to take care of it or return it to you.

Another example of a naked deposit is leaving money in a public place without asking anyone to hold onto it for you. The person who finds the money has no obligation to return it to you because you did not make any agreement with them.

These examples illustrate the definition of a naked deposit because in both cases, the depositor has given possession of an item without receiving anything in return and without making any agreement with the bailee for the care or return of the item.