(810 ILCS 5/2A-102) (from Ch. 26, par. 2A-102) (Text of Section before amendment by P.A. 103-1036 ) Sec. 2A-102. Scope. This Article applies to any transaction, regardless
of form, that creates a lease. (Source: P.A. 87-493.) (Text of Section after amendment by P.A. 103-1036 ) Sec. 2A-102. Scope. (1) This Article applies to any transaction, regardless of form, that creates a lease and, in the case of a hybrid lease, it applies to the extent provided in subsection (2). (2) In a hybrid lease: (a) if the lease-of-goods aspects do not predominate: (i) only the provisions of this Article which |
| relate primarily to the lease-of-goods aspects of the transaction apply, and the provisions that relate primarily to the transaction as a whole do not apply;
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(ii) Section 2A-209 applies if the lease is a
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(iii) Section 2A-407 applies to the promises of
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| the lessee in a finance lease to the extent the promises are consideration for the right to possession and use of the leased goods; and
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(b) if the lease-of-goods aspects predominate, this
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| Article applies to the transaction, but does not preclude application in appropriate circumstances of other law to aspects of the lease which do not relate to the lease of goods.
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(Source: P.A. 103-1036, eff. 1-1-25.)
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