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From a physical point of view, stocks are movable capital, but from a legal point of view they are to be considered immovable by destination, as they fall into that category of goods which in law are called appliances and that lart. 817 of the Civil Code defines: things destined in a lasting way to serve or adorn another thing according to the choice carried out by the owner of the main thing or by someone who has a right over it. It is possible to evaluate the fund and its stocks separately, keeping in mind that in some cases it is more appropriate to make a single valuation. In fact, in the hereditary divisions the fund cannot be attributed to one or more heirs and the stocks to others, so in the judicial estimates it is pertinent to evaluate the fund together with the stocks by making the estimate with the gate closed. The stocks are at the service of the fund and are indispensable for the management of the company.
Stock evaluation occurs in the following cases:
- when estimating the company with the gate closed for sale or succession;
- in the compilation of company financial statements (estimates, final, estimates) as the items (Q) and interest (I) on the value of company stocks must be calculated;
- when the transfer of management of the fund takes place from one person to another (delivery and redelivery inventories in the rental, liquidation);
- when proceeding to estimate the damage suffered by stocks;
- when they are sold separately.
Machines and tools (dead stocks)
Dead stocks are represented by machines and mechanical tools, as well as equipment for the handling and transformation of products (e.g. wine vessels, dairy containers, etc.).
If the second-hand market exists and the current prices of the machines of the different types, brands, models, age and state of conservation can be ascertained, the estimate is possible by direct comparison. the price lists provide average prices relating to machines that work and have an ordinary degree of wear. If the machine to be estimated has a different degree of wear than normal, or has suffered serious breakages that compromise its durability and safety of use, or requires extraordinary maintenance, in the estimate it will be necessary to take it into account, correcting the additions or deductions ordinary value given by the market.
If there is no second-hand market, the estimate of a machine can be made by devaluing its new price to a certain extent, to be determined according to age and state of conservation (average annual devaluation quota x age of the machine).
Livestock (live stocks)
For livestock, the evaluation is made either per head (for breeding animals - dairy cows, sows, breeding males, etc.) or for live weight (for slaughter animals - calves, lambs, kids, pigs, cows and end of career bulls, etc.) based on the average market price of the area.
stock products are products made in-house and intended for re-use as a production medium. These include fodder, bedding straw, manure, certain seeds, raw products intended for business transformation. Fodder and straw are usually evaluated on the basis of the market price recorded in the price lists.
The valuation at market price is undoubtedly to be followed in the case of estimation for damages, since the farmer will have to resort to purchases on the market in order to face the ceased availability of the stocks necessary to continue the production activity. If the destroyed product is not available on the market, the subrogation value will have to be used.
For fodder, if the evaluation is required for purposes other than the estimates for damages, it is necessary to verify whether they are in quantities such as to be indispensable for the reuse of the company, in the case it is more correct to resort to the transformation value, given that the farmer lacks the possibility of sell them if they are needed to feed livestock. In this case, in fact, their value does not depend on the sale price, but on the zootechnical productions that are obtained by transforming them. On the other hand, the deficiencies and surpluses with respect to company needs must be assessed on the basis of the market price.
for products that do not have a market, such as silage fodder and manure, estimation is possible at processing value.