inventory

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Inventory

An itemized list of property that contains a description of each specific article.

Inventory of a company, for example, is the annual account of stock taken in the business, or the quantity of goods or materials in stock. The term is also used to describe a list made by the executor or administrator of the estate of a deceased individual.

inventory

noun catalogue, checklist, contents, enumeration, index, itemization, itemized list, list, list ofproperties, manifest, merchandise list, record, register, schedule of articles, stock book, stock list, stock sheet, tally sheet
Associated concepts: inventory of assets
See also: check, depository, enumerate, index, inspection, invoice, itemize, relate, roll, schedule, stock, store, tabulate

INVENTORY. A list, schedule, or enumeration in writing, containing, article by article, the goods and chattels, rights and credits, and, in some cases, the lands and tenements, of a person or persons. In its most common acceptation, an inventory is a conservatory act, which is made to ascertain the situation of an intestate's estate, the estate of an insolvent, and the like, for the purpose of securing it to those entitled to it.
     2. When the inventory is made of goods and estates assigned or conveyed in trust, it must include all the property conveyed.
     3. In case of intestate estates, it is required to contain only the personal property, or that to which the administrator is entitled. The claims due to the estate ought to be separated; those which are desperate or had ought to be so returned. The articles ought to be set down separately, as already mentioned, and separately valued.
     4. The inventory is to be made in the presence of at least two of the creditors of the deceased, or legatees or next of kin, and, in their default and absence, of two honest persons. The appraisers must sign it, and make oath or affirmation that the appraisement is just to the best of their knowledge. Vide, generally, 14 Vin. Ab. 465; Bac. Ab. Executors, &c., E 11; 4 Com. Dig. 14; Ayliffe's Pand. 414; Ayliffe's Parerg. 305; Com. Dig. Administration, B 7; 3 Burr. 1922; 2 Addams' Rep. 319; S. C. 2 Eccles. R. 322; Lovel. on Wills; 38; 2 Bl. Com. 514; 8 Serg. & Rawle, 128; Godolph. 150, and the article Benefit of Inventory.

References in periodicals archive ?
Based in Alpharetta, Georgia, Home & Business Inventory Services provides residential contents, commercial asset, and estate inventory services in Metro Atlanta and North Georgia.
One was business inventory accumulation, which had exceeded the robust growth in final sales in 1997 and probably would moderate this year as business firms sought to restrain the buildup in their inventories to keep them in better alignment with the expected moderation of gains in sales.
The company's award-winning tools for PC and Mac organize book collections, wine, groceries, DVDs, comics, CDs, home assets, business inventory and more.
Based in Alpharetta, Georgia, Home and Business Inventory Consultants is bonded and insured, providing inventory services for homeowners, renters, business owners, farms, and storage units in Metro Atlanta and North Georgia.
After having picked up considerably in September, the pace of business inventory investment in October remained above that recorded earlier in the summer.

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