A depositor must indemnify the depository:

(1) For all damage caused to him by the defects or vices of the thing deposited; and

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(2) For all expenses necessarily incurred by him about the thing, other than such as are involved in the nature of the undertaking.

Source: CivC 1877, § 1045; CL 1887, § 3669; RCivC 1903, § 1364; RC 1919, § 981; SDC 1939, § 60.0102 (7).