Illinois Compiled Statutes 35 ILCS 505/1.9 – “Sale” means, in addition to its ordinary meaning, any exchange, gift …
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Terms Used In Illinois Compiled Statutes 35 ILCS 505/1.9
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
“Sale” means, in addition to its ordinary meaning, any exchange, gift or other disposition. In every case where motor fuel is exchanged, given or otherwise disposed of, it shall be deemed to have been sold.