English citations of stakeholder
1841, Joseph Chitty, A Practical Treatise on the Law of Contracts (S. Sweet, 1841):
- If two persons respectively deposit money in the hands of a stakeholder, subject to the event of a legal wager, no part of the amount deposited can be recovered from him except by the winner of the wager. A stakeholder is the agent of both parties, or rather their trustee ***".
1875, 26 N.J. Eq. 345, 1875 WL 6892 at 4 (N.J.Ch. 1875), First Nat. Bank v. Bininger:
- A stakeholder is a third person, chosen by two or more persons, to keep in deposit property, the right or possession of which is in dispute, until some one of them establishes his right to it.
1941, 127 N.J.L. 127 at 129-130, 21 A.2d 209 at 210 (N.J.Sup. 1941), State v. Dudley:
- The function of a stakeholder as commonly conceived, is to receive the sums wagered and hold them against the determining event, whether that event be a horse race or otherwise, and then pay them over to the winner; and the framer of the indictment apparently held that view. 2 Bouv.Law.Dict., Rawle's Third Revision, p. 3116, defines ‘stakeholder’ as ‘A third person chosen by two or more persons to keep in deposit property the right or possession of which is contested between them, and to be delivered to the one who shall establish his right to it. * * * A mere depositary for both parties of the money advanced by them respectively with a naked authority*130 to deliver it over upon the proposed contingency.’ This definition, deduced from cited cases, is given in 27 C.J. p. 982, § 77 E 6: ‘A stakeholder is a mere depositary of both parties to a wager for the money deposited by them, respectively, with a naked authority to deliver it over on the proposed contingency; a person with whom money is deposited pending the decision of a bet or wager; one holding a fund which two or more claim adversely to each other; one who has received the funds of another or others in special deposit for a given purpose, to be paid to one party, or divided between both, or among all the parties, on the happening or not happening of some anticipated event.’"