| | receipt, bill of lading, or other document of title acknowledges possession of goods and contracts to deliver them. See Illinois Compiled Statutes 810 ILCS 5/7-102Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.Bench trial: Trial without a jury in which a judge decides the facts.Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCCBequest: Property gifted by will.Board: means the governing and administrative body of the Illinois Valley Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/110-5Board: means the governing and administrative body of the Jasper County Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/115-5Board: means the governing and administrative body of the Jefferson County Metropolitan Exposition, Auditorium and Office Building Authority. See Illinois Compiled Statutes 70 ILCS 200/120-5Board: means the governing and administrative body of the Jo Daviess County Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/125-5Board: means the governing and administrative body of the Katherine Dunham Metropolitan Exposition, Auditorium and Office Building Authority. See Illinois Compiled Statutes 70 ILCS 200/130-5Board: means the governing and administrative body of the Marengo Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/145-5Board: means the governing and administrative body of the Benton Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/15-5Board: means the governing and administrative body of the Mason County Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/150-5Board: means the governing and administrative body of the Matteson Metropolitan Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/155-5Board: means the governing and administrative body of the Maywood Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/160-5Board: means the governing and administrative body of the Melrose Park Metropolitan Exposition Auditorium and Office Building Authority. See Illinois Compiled Statutes 70 ILCS 200/165-5Board: means the governing and administrative body of any Metropolitan Exposition, Auditorium and Office Building Authority, as provided in this Article. See Illinois Compiled Statutes 70 ILCS 200/170-5Board: means the governing and administrative body of the Milford Metropolitan Exposition, Auditorium and Office Building Authority. See Illinois Compiled Statutes 70 ILCS 200/175-5Board: means the governing and administrative body of the Normal Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/180-5Board: means the governing and administrative body of the Oak Park Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/185-5Board: means the governing and administrative body of the Orland Park Metropolitan Exposition, Auditorium and Office Building Authority. See Illinois Compiled Statutes 70 ILCS 200/190-5Board: means the governing and administrative body of the Ottawa Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/195-5Board: means the governing and administrative body of the Bloomington Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/20-5Board: means the governing and administrative body of the Pekin Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/200-5Board: means the governing and administrative body of the Peoria Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/205-5Board: means the governing and administrative body of the Pontiac Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/210-5Board: means the governing and administrative body of the Illinois Quad City Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/215-5Board: means the governing and administrative body of the Quincy Metropolitan Exposition, Auditorium and Office Building Authority. See Illinois Compiled Statutes 70 ILCS 200/220-5Board: means the governing and administrative body of the Randolph County Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/225-5Board: means the governing and administrative body of the River Forest Metropolitan Exposition, Auditorium and Office Building Authority. See Illinois Compiled Statutes 70 ILCS 200/230-5Board: means the governing and administrative body of the Riverside Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/235-5Board: means the governing and administrative body of the Rockford Metropolitan Exposition, Auditorium and Office Building Authority. See Illinois Compiled Statutes 70 ILCS 200/240-5Board: means the governing and administrative body of the Salem Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/245-5Board: means the governing and administrative body of the Sheldon Metropolitan Exposition, Auditorium and Office Building Authority. See Illinois Compiled Statutes 70 ILCS 200/250-5Board: means the governing and administrative body of the Springfield Metropolitan Exposition and Auditorium Authority. See Illinois Compiled Statutes 70 ILCS 200/255-5Board: means the governing and administrative body of the Sterling Metropolitan Exposition, Auditorium and Office Building Authority. See Illinois Compiled Statutes 70 ILCS 200/260-5Board: means the governing and administrative body of the Bowdre Township Metropolitan Exposition, Auditorium and Office Building Authority. See Illinois Compiled Statutes 70 ILCS 200/30-5Board: means the governing and administrative body of the Brownstown Park District Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/35-5Board: means the governing and administrative body of the Carbondale Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/40-5Board: means the governing and administrative body of the Aledo Community Center Authority. See Illinois Compiled Statutes 70 ILCS 200/5-5Board: means the governing and administrative body of the Centre East Metropolitan Exposition, Auditorium and Office Building Authority. See Illinois Compiled Statutes 70 ILCS 200/50-5Board: means the governing and administrative body of the Chicago South Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/55-5Board: means the governing and administrative body of the Collinsville Metropolitan Exposition, Auditorium and Office Building Authority. See Illinois Compiled Statutes 70 ILCS 200/60-5Board: means the governing and administrative body of the Crystal Lake Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/70-5Board: means the governing and administrative body of the DuPage County Metropolitan Exposition, Auditorium and Office Building Authority. See Illinois Compiled Statutes 70 ILCS 200/80-5Board: means the governing and administrative body of the Elgin Metropolitan Exposition, Auditorium and Office Building Authority. See Illinois Compiled Statutes 70 ILCS 200/85-5Board: means the governing and administrative body of the Herrin Metropolitan Exposition, Auditorium and Office Building Authority. See Illinois Compiled Statutes 70 ILCS 200/95-5Buyer: means a person who buys or contracts to | | | | | | lading. See Illinois Compiled Statutes 810 ILCS 5/7-102Case law: The law as laid down in cases that have been decided in the decisions of the courts.Chambers: A judge's office.Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.Circuit clerk: means clerk of the circuit court. See Illinois Compiled Statutes 5 ILCS 70/1.26City: means the City of Peoria, Illinois. See Illinois Compiled Statutes 70 ILCS 200/205-5City clerk: means the City Clerk of the City of Peoria, Illinois. See Illinois Compiled Statutes 70 ILCS 200/205-5City council: means the City Council of the City of Peoria, Illinois. See Illinois Compiled Statutes 70 ILCS 200/205-5Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.Committee membership: Legislators are assigned to specific committees by their party. Seniority, regional balance, and political philosophy are the most prominent factors in the committee assignment process.Community Reinvestment Act: The Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by the Congress in 1977. Source: OCCConsignee: means a person named in a bill of | | | | | | lading as the person from which the goods have been received for shipment. See Illinois Compiled Statutes 810 ILCS 5/7-102Contingent beneficiary: Receiver of property or benefits if the first named beneficiary fails to receive any or all of the property or benefits in question before his (her) death.Continuance: Putting off of a hearing ot trial until a later time.Conviction: A judgement of guilt against a criminal defendant.County board: means the board of county commissioners in counties not under township organization, and the board of supervisors in counties under township organization, and the board of commissioners of Cook County. See Illinois Compiled Statutes 5 ILCS 70/1.07Court reporter: A person who makes a word-for-word record of what is said in court and produces a transcript of the proceedings upon request.Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCCCross examine: Questioning of a witness by the attorney for the other side.Decedent: A deceased person.decree: is synonymous with the word "judgment". See Illinois Compiled Statutes 5 ILCS 70/1.24Deed: The legal instrument used to transfer title in real property from one person to another.Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.Defense attorney: Represent defendants in criminal matters.Delivery order: means a record that contains an | | | order to deliver goods directed to a warehouse, carrier, or other person that in the ordinary course of business issues warehouse receipts or bills of lading. See Illinois Compiled Statutes 810 ILCS 5/7-102Dependent: A person dependent for support upon another.Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.Devise: To gift property by will.Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.Dismissal: The dropping of a case by the judge without further consideration or hearing. Source: Docket: A log containing brief entries of court proceedings.Donor: The person who makes a gift.Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCCEntitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.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. CourtsEscrow: Money given to a third party to be held for payment until certain conditions are met.Ex officio: Literally, by virtue of one's office.Executor: A male person named in a will to carry out the decedentExtradition: The formal process of delivering an accused or convicted person from authorities in one state to authorities in another state.Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCCFee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.Fiduciary: A trustee, executor, or administrator.Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCCFiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances: - You are late making a payment or commit some other default, triggering an increase to a penalty rate
- The bank changes the terms of your account and you do not reject the change.
- The rate expires (if the rate was fixed for only a certain period of time).
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: OCCFreedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. Source: OCCGarnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtorGeneral Revenue Law of Illinois: or any equivalent expression, when used with reference to revenue, shall be deemed to refer to the Property Tax Code and all existing and future amendments thereto and modifications thereof, and all rules now or hereafter adopted pursuant thereto. See Illinois Compiled Statutes 5 ILCS 70/1.23Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.Good faith: means honesty in fact and the | | | | | | movable for the purposes of a contract for storage or transportation. See Illinois Compiled Statutes 810 ILCS 5/7-102Governor: means the Governor of the State of Illinois. See Illinois Compiled Statutes 70 ILCS 200/255-5Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal ReserveGrand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,Grantor: The person who establishes a trust and places property into it.Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCCHabeas corpus: A writ that is usually used to bring a prisoner before the court to determine the legality of his imprisonment. It may also be used to bring a person in custody before the court to give testimony, or to be prosecuted.Hearsay: Statements by a witness who did not see or hear the incident in question but heard about it from someone else. Hearsay is usually not admissible as evidence in court.Heretofore: means any time previous to the day on which the statute takes effect; and the word "hereafter" at any time after such day. See Illinois Compiled Statutes 5 ILCS 70/1.17Impeachment: (1) The process of calling something into question, as in "impeaching the testimony of a witness." (2) The constitutional process whereby the House of Representatives may "impeach" (accuse of misconduct) high officers of the federal government for trial in the Senate.In forma pauperis: In the manner of a pauper. Permission given to a person to sue without payment of court fees on claim of indigence or poverty.Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDICIndictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.Inter vivos: Transfer of property from one living person to another living person.Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCCInterrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.Intestate: Dying without leaving a will.Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.Issuer: means a bailee that issues a document of | | | title or, in the case of an unaccepted delivery order, the person that orders the possessor of goods to deliver. See Illinois Compiled Statutes 810 ILCS 5/7-102Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.Joint resolution: A legislative measure which requires the approval of both chambers.Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.Judgement: The official decision of a court finally determining the respective rights and claims of the parties to a suit.Juror: A person who is on the jury.Law clerk: Assist judges with research and drafting of opinions.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: OCCLegacy: A gift of property made by will.Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. MintLegatee: A beneficiary of a decedentLiabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.Lien: A claim against real or personal property in satisfaction of a debt.Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.Local governmental unit: means any unit of local government or school district. See Illinois Compiled Statutes 735 ILCS 5/20-101may: as used in this Article means permissive and not mandatory. See Illinois Compiled Statutes 735 ILCS 5/15-1105Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the county of Jasper. See Illinois Compiled Statutes 70 ILCS 200/115-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the County of Jefferson. See Illinois Compiled Statutes 70 ILCS 200/120-5Metropolitan area: means all that territory in the State of Illinois lying within Jo Daviess County. See Illinois Compiled Statutes 70 ILCS 200/125-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the City of East St. See Illinois Compiled Statutes 70 ILCS 200/130-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of School District No. See Illinois Compiled Statutes 70 ILCS 200/145-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the City of Benton in the County of Franklin. See Illinois Compiled Statutes 70 ILCS 200/15-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the County of Mason. See Illinois Compiled Statutes 70 ILCS 200/150-5Metropolitan area: means all that territory which lies within the corporate boundaries of the Village of Matteson. See Illinois Compiled Statutes 70 ILCS 200/155-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the village of Maywood. See Illinois Compiled Statutes 70 ILCS 200/160-5Metropolitan Area: means all that territory in the State of Illinois lying within the corporate boundaries of the Village of Melrose Park. See Illinois Compiled Statutes 70 ILCS 200/165-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the county or counties establishing an authority as provided in this Article. See Illinois Compiled Statutes 70 ILCS 200/170-5Metropolitan Area: means all that territory which lies within the corporate boundaries of the Village of Milford. See Illinois Compiled Statutes 70 ILCS 200/175-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the City of Normal in the County of McLean. See Illinois Compiled Statutes 70 ILCS 200/180-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate limits of the Village of Oak Park. See Illinois Compiled Statutes 70 ILCS 200/185-5Metropolitan area: means all that territory which lies within the corporate boundaries of the Village of Orland Park. See Illinois Compiled Statutes 70 ILCS 200/190-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the City of Ottawa in the County of LaSalle. See Illinois Compiled Statutes 70 ILCS 200/195-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the City of Bloomington. See Illinois Compiled Statutes 70 ILCS 200/20-5Metropolitan area: means all that territory which is in the corporate boundaries of the City of Pekin. See Illinois Compiled Statutes 70 ILCS 200/200-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the City of Pontiac. See Illinois Compiled Statutes 70 ILCS 200/210-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the County of Rock Island and not within the territory of any other civic center authority. See Illinois Compiled Statutes 70 ILCS 200/215-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the City of Quincy. See Illinois Compiled Statutes 70 ILCS 200/220-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the County of Randolph. See Illinois Compiled Statutes 70 ILCS 200/225-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the Township of River Forest. See Illinois Compiled Statutes 70 ILCS 200/230-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the Village of Riverside in Cook County, Illinois. See Illinois Compiled Statutes 70 ILCS 200/235-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the County of Winnebago. See Illinois Compiled Statutes 70 ILCS 200/240-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the City of Salem in Marion County. See Illinois Compiled Statutes 70 ILCS 200/245-5Metropolitan area: means all that territory which lies within the corporate boundaries of the Village of Sheldon. See Illinois Compiled Statutes 70 ILCS 200/250-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the Townships of Springfield, Woodside and Capital in the County of Sangamon. See Illinois Compiled Statutes 70 ILCS 200/255-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the City of Sterling. See Illinois Compiled Statutes 70 ILCS 200/260-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the Brownstown Park District in the County of Fayette. See Illinois Compiled Statutes 70 ILCS 200/35-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the City of Carbondale. See Illinois Compiled Statutes 70 ILCS 200/40-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of Mercer Township in the County of Mercer. See Illinois Compiled Statutes 70 ILCS 200/5-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of Niles Township or any municipality a part of which lies within Niles Township. See Illinois Compiled Statutes 70 ILCS 200/50-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the City of Harvey and the Villages of Flossmoor, Lansing, South Holland, Homewood, East Hazel Crest, and Glenwood, together with the territory within the boundaries of other Illinois municipalities that become part of the metropolitan area as provided in Section 55-15. See Illinois Compiled Statutes 70 ILCS 200/55-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the City of Collinsville. See Illinois Compiled Statutes 70 ILCS 200/60-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the municipality of Crystal Lake in the County of McHenry. See Illinois Compiled Statutes 70 ILCS 200/70-5Metropolitan area: means all that territory in the State of Illinois lying within DuPage County, except for those portions lying within municipalities which have a civic center authority within the corporate limits of such municipalities, and except for those portions within the metropolitan area of the Illinois-Michigan Canal National Heritage Corridor Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/80-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the City of Elgin. See Illinois Compiled Statutes 70 ILCS 200/85-5Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the City of Herrin. See Illinois Compiled Statutes 70 ILCS 200/95-5Minority leader: See Floor LeadersMortgage: The written agreement pledging property to a creditor as collateral for a loan.Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCCMortgagee: The person to whom property is mortgaged and who has loaned the money.Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.Municipalities: has the meaning established in Section 1 of Article VII of the Constitution of the State of Illinois of 1970. See Illinois Compiled Statutes 5 ILCS 70/1.27National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCCNet revenues: means the revenues of the Authority exclusive of taxes after deducting all costs of operation and maintenance and such reserves as may be deemed necessary or advisable by the Authority. See Illinois Compiled Statutes 70 ILCS 200/205-5Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.Oath: A promise to tell the truth.oath: shall be deemed to include an affirmation, and the word "sworn" shall be construed to include the word "affirmed. See Illinois Compiled Statutes 5 ILCS 70/1.12Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.ordinary civil cases: or any equivalent expression, when used with reference to practice, procedure, or appeal, shall be deemed to refer to cases under the Civil Practice Law, and all existing and future amendments thereto and modifications thereof, and the Supreme Court Rules as now or hereafter adopted. See Illinois Compiled Statutes 5 ILCS 70/1.22Person: includes any firm, corporation, association, agency, institution or other legal entity, as well as any natural person. See Illinois Compiled Statutes 735 ILCS 5/20-101Person under legal disability: means a person 18 years or older who (a) because of mental deterioration or physical incapacity is not fully able to manage his or her person or estate, or (b) is a person with mental illness or is a person with developmental disabilities and who because of his or her mental illness or developmental disability is not fully able to manage his or her person or estate, or (c) because of gambling, idleness, debauchery or excessive use of intoxicants or drugs, so spends or wastes his or her estate as to expose himself or herself or his or her family to want or suffering. See Illinois Compiled Statutes 5 ILCS 70/1.06Personal property: All property that is not real property.Petty offense: A federal misdemeanor punishable by six months or less in prison. Source: U.S. CourtsPlea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.police force: shall be construed to include such persons in the employ of a municipality as members of the department of police, who are or shall hereafter be appointed and sworn as policemen. See Illinois Compiled Statutes 5 ILCS 70/1.20Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCCPrecedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.present sale: means a sale which is accomplished by the making of the contract. See Illinois Compiled Statutes 810 ILCS 5/2-106Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.Pretrial conference: A meeting of the judge and lawyers to discuss which matters should be presented to the jury, to review evidence and witnesses, to set a timetable, and to discuss the settlement of the case.Pro se: A Latin term meaning "on one's own behalf"; in courts, it refers to persons who present their own cases without lawyers.Probable cause: A reasonable ground for belief that the offender violated a specific law.Probate: Proving a willProbation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.Probation officers: Screen applicants for pretrial release and monitor convicted offenders released under court supervision.Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.Public defender: Represent defendants who can't afford an attorney in criminal matters.Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.Quorum: The number of legislators that must be present to do business.Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.Recess: A temporary interruption of the legislative business.Record: means information that is inscribed on | | | a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Illinois Compiled Statutes 810 ILCS 5/7-102Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDICRemainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.Remainderman: One entitled to the remainder of an estate after a particular reserved right or interest, such as a life tenancy, has expired.Remand: When an appellate court sends a case back to a lower court for further proceedings.Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.Revolving credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or open-end credit.) Source: OCCSeller: means a person who sells or contracts to | | | sell goods. See Illinois Compiled Statutes 810 ILCS 5/2-103Service of process: The service of writs or summonses to the appropriate party.Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.shall: as used in this Article means mandatory and not permissive. See Illinois Compiled Statutes 735 ILCS 5/15-1105Shipper: means a person that enters into a | | | contract of transportation with a carrier. See Illinois Compiled Statutes 810 ILCS 5/7-102Statute: A law passed by a legislature.Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.Subpoena: A command to a witness to appear and give testimony.Subpoena duces tecum: A command to a witness to produce documents.Summons: Another word for subpoena used by the criminal justice system.Surviving spouse: means "widow" or "widower" as the case may be. See Illinois Compiled Statutes 5 ILCS 70/1.32sworn: shall be construed to include the word "affirmed. See Illinois Compiled Statutes 5 ILCS 70/1.12Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.Tenancy by the entirety: A type of joint tenancy between husband and wife that is recognized in some States. Neither party can sever the joint tenancy relationship; when a spouse dies, the survivor acquires full title to the property.Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedentTestate: To die leaving a will.Testator: A male person who leaves a will at death.Testify: Answer questions in court.Testimony: Evidence presented orally by witnesses during trials or before grand juries.Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.Trustee: A person or institution holding and administering property in trust.Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCCUphold: The decision of an appellate court not to reverse a lower court decision.Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.Venue: The geographical location in which a case is tried.Verdict: The decision of a petit jury or a judge.Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.Victim Impact Statement: A written or spoken statement by the victim or his or her representative about the physical, emotional, and financial impact of a crime on the victim. The statement is given to the court before sentencing.Warehouse: means a person engaged in the | |
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