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Current as of January 01, 2022 | Updated by FindLaw Staff
§ 2. As used in this Act, unless the context requires otherwise:
(1) “Farm implement” means any self-propelled vehicle which is designed primarily for use in the occupation or business of farming.
(2) “Consumer” means a purchaser, other than for purposes of resale, of a new farm implement.
(3) “Delivery” means the transfer of physical possession.
(4) “Fair rental value” means the cost of a comparable farm implement to accomplish the same agricultural tasks.
(5) “Nonconformity” means any failure to conform to any express written warranty, which failure substantially impairs the intended use of the farm implement.
(6) “Reasonable allowance for prior use” means no less than the fair rental value of the farm implement and shall be the sum of (1) that amount attributable to use by the consumer prior to the consumer's first report of the nonconformity to the manufacturer or its authorized dealers, (2) that amount attributable to use by the consumer during any period subsequent to such report when the farm implement is not out of service by reason of repair of the reported nonconformity, and (3) that amount attributable to use by the consumer of the farm implement provided by the manufacturer or its authorized dealers while the farm implement is out of service by reason of repair of the reported nonconformity.
Cite this article: FindLaw.com - Illinois Statutes Chapter 815. Business Transactions § 340/2. Definitions - last updated January 01, 2022 | https://codes.findlaw.com/il/chapter-815-business-transactions/il-st-sect-815-340-2/
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