Illinois Compiled Statutes 20 ILCS 850/4 – Nothing in this Act affects the validity of any contract or lease …
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Terms Used In Illinois Compiled Statutes 20 ILCS 850/4
- Contract: A legal written agreement that becomes binding when signed.
- 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
Nothing in this Act affects the validity of any contract or lease affecting the Illinois and Michigan Canal in effect on December 31, 1973 nor of any action taken by the Department of Transportation or by the Department of Public Works and Buildings as respects that Canal.