Lipids They are the natural occurring organic molecules isolated from cell and tissues by extraction with polar organic solvent General Properties of Lipids Fats and Oil Structure & Composition of Fats and Oil Physical properties of Fats and Oil Chemical properties of Fats and Oil 1. Hydrolysis 2. Saponification 3. Hydrogenation Rancidity of Fats and Oil Fats and Oil are when spoiled and give odour it it called Rancidity of Fats and Oil Iodine Number Chapter No 14 Macromolecules chemistry Part 2