INVENTORY - Steven J. Coker
Subject: INVENTORY
From: Steven J. Coker
Date: December 05, 1998

Extracted From:
  A LAW DICTIONARY ..., SIXTH EDITION, 1856
  by John Bouvier, CHILDS & PETERSON, PHILADELPHIA

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....

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