Illinois Compiled Statutes 765 ILCS 67/40 – Right to cure default
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Terms Used In Illinois Compiled Statutes 765 ILCS 67/40
- Contract: A legal written agreement that becomes binding when signed.
If the buyer defaults in payment, any action brought against the buyer under the contract shall be initiated only after the expiration of 90 days from the date of the default. A buyer in default may, prior to the expiration of the 90-day period, make all payments, fees, and charges currently due under the contract to cure the default.