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| | regularly engaged in the business of leasing or selling makes to a lessee who is an individual and who takes under the lease primarily for a personal, family, or household purpose, if the total payments to be made under the lease contract, excluding payments for options to renew or buy, do not exceed $40,000. See Illinois Compiled Statutes 810 ILCS 5/2A-103Contract: A legal written agreement that becomes binding when signed.Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.Fault: means wrongful act, omission, breach, or | | | | | (i) the lessor does not select, manufacture, or | | (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 | | | 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-103Goods: means all things that are movable at the | | | time of identification to the lease contract, or are fixtures (Section 2A-309), but the term does not include money, documents, instruments, accounts, chattel paper, general intangibles, or minerals or the like, including oil and gas, before extraction. See Illinois Compiled Statutes 810 ILCS 5/2A-103Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCCLease: means a transfer of the right to | | | possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. See Illinois Compiled Statutes 810 ILCS 5/2A-103Lease agreement: means the bargain, with respect | | | to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this Article. See Illinois Compiled Statutes 810 ILCS 5/2A-103Lease contract: means the total legal obligation | | | | | | | | | to possession and use of goods under a lease. See Illinois Compiled Statutes 810 ILCS 5/2A-103Minority leader: See Floor LeadersObligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14Statute: A law passed by a legislature.Sublease: means a lease of goods the right to | |
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