This document provides information about fats, oils, and their properties. It defines fats and oils as lipids that are saponifiable (containing ester groups) and made up of triglycerides consisting of glycerol bonded to three fatty acid chains. The document discusses the hydrolysis, hydrogenation, saponification, and rancidification reactions of fats and oils. It also defines analytical values used to characterize fats and oils such as saponification value, iodine value, and acid value. Sources and extraction methods of fats and oils from plants and animals are also summarized.