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Terms Used In Illinois Compiled Statutes 765 ILCS 67/45

  • Contract: A legal written agreement that becomes binding when signed.
     It is a violation of this Act for either party to make an oral or written misrepresentation to the other party concerning a contract or regarding the rights or duties of either party under this Act or to induce either party to sign incomplete forms, contracts, notices, or written statements relating to the sale of residential real estate.