Illinois Compiled Statutes 815 ILCS 636/10.115 – Single payment lease
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Terms Used In Illinois Compiled Statutes 815 ILCS 636/10.115
- 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
A consumer lease for which a single payment is required to be paid at the beginning of the lease for the scheduled term of the lease.