| n. | 1. | An account, catalogue, or schedule, made by an executor or administrator, of all the goods and chattels, and sometimes of the real estate, of a deceased person; a list of the property of which a person or estate is found to be possessed; hence, an itemized list of goods or valuables, with their estimated worth. |
| 2. | The objects contained on an inventory{1}; | |
| 3. | The total value of all goods in an inventory{2}. | |
| 4. | The act of making an inventory{1}. | |
| v. t. | 1. | To make an inventory of; to make a list, catalogue, or schedule of; to insert or register in an account of goods; |
| Noun | 1. | inventory - a detailed list of all the items in stock Synonyms: stock list |
| 2. | inventory - the merchandise that a shop has on hand; "they carried a vast inventory of hardware" Synonyms: stock | |
| 3. | inventory - (accounting) the value of a firm's current assets including raw materials and work in progress and finished goods | |
| 4. | inventory - a collection of resources; "he dipped into his intellectual armory to find an answer" | |
| 5. | inventory - making an itemized list of merchandise or supplies on hand; "the inventory took two days" Synonyms: inventorying, stocktaking | |
| Verb | 1. | inventory - make or include in an itemized record or report; "Inventory all books before the end of the year" |
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.
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