(810 ILCS 5/2A-217) (from Ch. 26, par. 2A-217)
Sec. 2A-217. Identification. Identification of goods as goods to which a lease contract refers may be made at any time and in any manner explicitly agreed to by the parties. In the absence of explicit agreement, identification occurs:
(a) when the lease contract is made if the lease
contract is for a lease of goods that are existing and identified;
(b) when the goods are shipped, marked, or otherwise
designated by the lessor as goods to which the lease contract refers, if the lease contract is for a lease of goods that are not existing and identified; or
(c) when the young are conceived, if the lease
contract is for a lease of unborn young of animals.
(Source: P.A. 87-493.)
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Last modified: February 18, 2015