Terms Used In Illinois Compiled Statutes > 60 ILCS 1 > Article 180 - Lease Of County Home Or Hospital

• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• County board: means the board of county commissioners in counties not under township organization, and the board of supervisors in counties under township organization, and the board of commissioners of Cook County. See Illinois Compiled Statutes 5 ILCS 70/1.07
• 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}