Illinois Compiled Statutes > 20 ILCS 4116 – Blue-Ribbon Commission on Transportation Infrastructure Funding and Policy Act
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Terms Used In Illinois Compiled Statutes > 20 ILCS 4116 - Blue-Ribbon Commission on Transportation Infrastructure Funding and Policy Act
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Contract: A legal written agreement that becomes binding when signed.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Finance lease: means a lease with respect to
which: |
(i) the lessor does not select, manufacture, or
supply the goods; |
(ii) the lessor acquires the goods or the right
to possession and use of the goods in connection with the lease; and |
(iii) one of the following occurs:
(A) the lessee receives a copy of the
(A) the lessee receives a copy of the
contract by which the lessor acquired the goods or the right to possession and use of the goods before signing the lease contract; |
(B) the lessee's approval of the contract by
which the lessor acquired the goods or the right to possession and use of the goods is a condition to effectiveness of the lease contract; |
(C) the lessee, before signing the lease
contract, receives an accurate and complete statement designating the promises and warranties, and any disclaimers of warranties, limitations or modifications of remedies, or liquidated damages, including those of a third party, such as the manufacturer of the goods, provided to the lessor by the person supplying the goods in connection with or as part of the contract by which the lessor acquired the goods or the right to possession and use of the goods; or |
(D) if the lease is not a consumer lease, the
lessor, before the lessee signs the lease contract, informs the lessee in writing (a) of the identity of the person supplying the goods to the lessor, unless the lessee has selected that person and directed the lessor to acquire the goods or the right to possession and use of the goods from that person, (b) that the lessee is entitled under this Article to the promises and warranties, including those of any third party, provided to the lessor by the person supplying the goods in connection with or as part of the contract by which the lessor acquired the goods or the right to possession and use of the goods, and (c) that the lessee may communicate with the person supplying the goods to the lessor and receive an accurate and complete statement of those promises and warranties, including any disclaimers and limitations of them or of remedies. See Illinois Compiled Statutes 810 ILCS 5/2A-103 | |||||||||||||||||||||||
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