Definition of term:: Errate slip
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A usually small piece of paper either laid into, or affixed into the text that indicates errors in the printed text, and the intended corrections, in order that the reader won't call up the author or publisher and say, "I found a mistake in your book!" Its presence or lack thereof in a book may constitute a "point of issue." The errata slip is vital to Harry Craddock's The Savoy Cocktail Book – not only is it a necessary component of the first edition, but more importantly it's essential for a properly mixed Bacardi Cocktail.
Source: What bookdealers really mean. A dictionary by Tom Congalton and Dan Gregory (Between the Covers), with additions from other sources