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. 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 ?
By utilizing RFID in our stocktaking, we digitized our wine list which ensures inventory management transparency.
This paper is aimed at providing a documentation and examination of the issues, challenges, experiences and lessons from the re-accessioning and stocktaking exercise in the Main Library and also to serve as a guide or working or reference document to the Main Library, college libraries in KNUST (who are yet to embark on similar exercise) and other academic libraries in Ghana which have not yet been automated.
Barbour, in contrast, demonstrates the sheer breadth and richness of the period's religious stocktaking, and he shows how a surprising array of writers were committed to probing the circumstances that comprised and sometimes compromised the Caroline religious experience.
He added: "It was so bad they did not have an overtime rate, even when I had to stay all night stocktaking."
''March is the stocktaking (month), and that's across the board,'' WTO Director General Mike Moore said in an interview with Kyodo News.
Despite the volume of sales, however, many retailers have found that the profit from selling mobile top-up vouchers is limited because of the overheads involved, including stocktaking and voucher ordering.
Stock Track PLUS provides improved stock control and stock location, faster stocktaking, more efficient traceability and higher levels of quality control.
I did a really honest stocktaking of my life, had a talk with the leader of the conference and, in an unemotional decision, gave over all of myself to all I understood God to be.
The music is wittily boisterous, like a stocktaking of incessant impulsiveness.
A proper and strict stocktaking of all government vehicles in Pakistan, federal as well as all provincial, including all autonomous and semi-autonomous bodies, should be carried out and all surplus vehicles must be auctioned - apart from taking exemplary disciplinary action against all those using unauthorised government vehicles, be it civil or military officials.
The meeting will be a stocktaking exercise about the cooperation and developments recorded in the first year of Astana meetings, and address joint steps that could be taken jointly in the upcoming period to accelerate the process of finding a solution to the Syrian conflict.
A SUNDERLAND College student is preparing to stand up and be counted after securing a Norwegian placement as part of a partnership with a leading stocktaking and inventory company.