perishable property

perishable property
Property subject to decay, deterioration, or depreciation. Anno: 3 ALR3d 595 § 1. Precisely, property which by its inherent nature is subject to immediate decay, Anno: 3 ALR3d 597-604, to decay in a short time. Illinois Cent. Railroad Co. v McClellan, 54 Ill 58. Broadly, any property which will materially depreciate in value, whether by natural decay or from other causes. Anno: 3 ALR3d 608. For some purposes, as for a sale in bankruptcy, property likely to deteriorate in value, even though physical deterioration is not reasonably to be expected. Re Pedlow (CA2 NY) 209 F 841.

Ballentine's law dictionary. . 1998.

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