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1.
Unclaimed item/belongings that have been left at a party unintentionally by an individual (i.e. jacket, hat). Often times the host of the party will have a grace period for when the said person can come back and retrieve their item/belongings, however once this period passes the party host assumes ownership of the goods and can alternatively give it away. "The 8 day grace period"
Matthew: Check out these party leftovers; a hat, scarf, and a woman's size 3 Armani blazer.

Erin: That's my favorite size and my favorite brand of blazers - may I take this blazer?

Matthew: Haha, well it is pass the 8 day grace period so it's yours now.
by FWSScontact January 05, 2013