{"data":{"id":"us-il/815-ilcs-655-1","jurisdiction":"us-il","citation":"815 ILCS 655/1","heading":"Definitions.","body":"In this Act:\n(1) \"Advertisement\" means a commercial message in any medium that directly or indirectly promotes or assists a rental-purchase agreement.\n(2) \"Cash price\" means the price for which the merchant would have sold the merchandise to the consumer for cash on the date of the rental-purchase agreement.\n(3) \"Consumer\" means an individual who leases personal property under a rental-purchase agreement.\n(4) \"Merchandise\" means the personal property that is the subject of a rental-purchase agreement.\n(5) \"Merchant\" means a person who, in the ordinary course of business, regularly leases, offers to lease or arranges for the leasing of merchandise under a rental-purchase agreement, and includes a person who is assigned an interest in a rental-purchase agreement.\n(6) \"Rental-purchase agreement\" means an agreement for the use of merchandise by a consumer for personal, family or household purposes for an initial period of 4 months or less that is automatically renewable with each payment after the initial period and that permits the consumer to become the owner of the merchandise.","path":["CHAPTER 815 BUSINESS TRANSACTIONS","Rental-Purchase Agreement Act."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=2378\u0026ChapterID=67\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:48Z","sha256":"071ab76574c8900bafe4e6adbffefade5bc8a6d4b2e4d5e9aca1f06eb56e9e90","source_id":"us-il","stale":false,"prev":"us-il/815-ilcs-655-0.01","next":"us-il/815-ilcs-655-2"},"notice":"GroundRules: Original legal text. Not legal advice."}