Illinois Compiled Statutes 770 ILCS 105/4.1 – Possession of special tool
Current as of: 2024 | Check for updates
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If the toolmaker has not been paid the amount claimed in the notice within 90 days after the initial notice is received by the customer and by the processor, the toolmaker has a right to possession of the special tool and may do the following:
(1) enforce the right to possession of the special
(1) enforce the right to possession of the special
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tool by judgement, foreclosure, or any available judicial procedure;
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(2) commence a civil action in circuit court to
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enforce the lien, including by obtaining a judgment for the amount owed and a judgment permitting the special tool to be sold at an execution sale;
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(3) take possession of the special tool, if
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possession without judicial process can be done without breach of the peace; and
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(4) sell the special tool in a public auction.
A toolmaker that suffers damages under this Act may obtain appropriate legal and equitable relief, including damages, in a civil action. The court shall award the toolmaker that is the prevailing party reasonable attorney’s fees, court costs, and expenses related to enforcement of the lien.
Terms Used In Illinois Compiled Statutes 770 ILCS 105/4.1
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Judgement: The official decision of a court finally determining the respective rights and claims of the parties to a suit.
- Lien: A claim against real or personal property in satisfaction of a debt.
A toolmaker that suffers damages under this Act may obtain appropriate legal and equitable relief, including damages, in a civil action. The court shall award the toolmaker that is the prevailing party reasonable attorney’s fees, court costs, and expenses related to enforcement of the lien.