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 ?
2011 saw rapid absorption of distressed inventory in major markets like Miami and San Diego.
Further more, Xotels expects to offset the lower demand by launching promotional campaigns to unload distressed inventory on some of the weaker summer destinations.
Marcus & Millichap brings several key advantages to owners and lenders of distressed properties including its market research, extensive local market coverage, particularly in secondary and tertiary markets where much of the distressed inventory is concentrated, and most important, its industry-leading access to private capital.
com gave hotels what they needed, offering a simple system to effectively yield manage their distressed inventory.
The firm finds reductions in unemployment and distressed inventory of existing homes in key markets is helping fuel improving land markets.
How any change in foreclosure starts will affect the supply of distressed inventory may not be evident for over a year.
The company's goal is to pare down distressed inventory to 10 percent of its total number of SKUs (it is now at 14 percent) by the end of the plan's first phase.
It is entirely possible to clear distressed inventory on Twitter or Facebook.
The Florida Realtors trade organization has said median prices in Broward County have already increased, but Fiserv said that's likely only temporary since distressed inventory will drag prices down again.
Although clearly there is still significant distressed inventory that needs to make its way through the disposition pipeline, it appears that the market in southern Arizona has bottomed out for owner-occupant-quality homes.