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Terms Used In Illinois Compiled Statutes 815 ILCS 636/10.125

  • 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: OCC
     Words in the singular include the plural and vice versa, unless otherwise specified. The term “periodic” means “monthly”, “weekly”, “quarterly”, or any other period as specified in the consumer lease.