Conclusion: Deposit Account Agreement

The point of this section is to impress upon you the importance of having a deposit account agreement with your depositors that creates legally enforceable contract rights. This agreement should clearly spell out the rules that are going to apply to the operation of the account so that you can avoid disputes with your depositors and can quickly resolve the disputes that do arise. However, the agreement should not overreach and try to settle every possible conflict in your favor so that it is likely to be seen by a court as unconscionable or as a contract of adhesion. Such an interpretation would result in your losing the ability to rely on the important provisions in your agreement.