Illinois Compiled Statutes 215 ILCS 5/392 – Estoppel
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Illinois Compiled Statutes 215 ILCS 5/392
- Obligation: 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.
Any company which shall execute any bond, recognizance, obligation, stipulation or undertaking as surety shall be estopped, in any proceeding to enforce the liability which it shall have assumed to incur, to deny its power to execute the same or assume such liability.