§ 2-101 Short title
§ 2-102 Scope; certain security and other transactions excluded from this article
§ 2-103 Definitions and index of definitions
§ 2-104 Definitions
§ 2-105 Definitions: transferability; “goods”; “future” goods; “lot”; “commercial unit”
§ 2-106 Definitions
§ 2-107 Goods to Be Severed From Realty: Recording

Terms Used In Illinois Compiled Statutes > 810 ILCS 5 > Article 2 > Part 1 - Short Title, General Construction And Subject Matter

  • Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Buyer: means a person who buys or contracts to
    
buy goods. See Illinois Compiled Statutes 810 ILCS 5/2-103
  • 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: OCC
  • Contract: A legal written agreement that becomes binding when signed.
  • Contract for sale: includes both a present sale of goods and a contract to sell goods at a future time. See Illinois Compiled Statutes 810 ILCS 5/2-106
  • Conviction: A judgement of guilt against a criminal defendant.
  • 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
  • individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
  • Minority leader: See Floor Leaders
  • 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.
  • present sale: means a sale which is accomplished by the making of the contract. See Illinois Compiled Statutes 810 ILCS 5/2-106
  • Seller: means a person who sells or contracts to
  •     
    sell goods. See Illinois Compiled Statutes 810 ILCS 5/2-103
  • State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
  • Statute: A law passed by a legislature.
  • United States: may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14