Illinois Compiled Statutes > 20 ILCS 301 > Article 1 – General Provisions
Current as of: 2021 |
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| § 20 ILCS 301/1-1 | Short title |
| § 20 ILCS 301/1-5 | Legislative declaration |
| § 20 ILCS 301/1-10 | Definitions |
Terms Used In Illinois Compiled Statutes > 20 ILCS 301 > Article 1 - General Provisions
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Trustee: A person or institution holding and administering property in trust.
- United States: may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14