Perishable Property Law and Legal Definition
Perishable property, in the commercial sense, is that which, from its nature, decays in a short space of time, without reference to the care it receives. [Illinois C. R. Co. v. McClellan, 54 Ill. 58, 67 (Ill. 1870)].
Perishable property also refers to any property which will materially depreciate in value, whether by natural decay or from other causes. Perishable, fairly construed, means property which, for any reason, will deteriorate in value, and what is and what is not perishable may be left to the discretion of the court. [In re Pedlow, 209 F. 841 (2d Cir. N.Y. 1913)].