(815 ILCS 350/2) (from Ch. 121 1/2, par. 157.2)
Sec. 2.
Definitions.
In this Act, unless the context or subject matter otherwise requires:
A "going out of business sale" means any sale, whether described by such
name or by any other name (such as, but not limited to, "closing out sale",
"liquidation sale", "lost our lease sale", "forced to vacate sale"), held
in such a manner as to induce a belief that upon disposal of the stock of
goods on hand, the business will cease and be discontinued at the premises
where the sale is conducted.
"Goods" includes all goods, wares, merchandise and other personal
property, excepting choses in action and money.
"Person" includes a person, firm, corporation, partnership, association
or two or more persons having a joint or common interest.
A "removal sale" means any sale held in such a manner as to induce a
belief that upon disposal of the stock of goods on hand, the business will
cease and be discontinued at the premises where the sale is conducted, and
thereafter will be moved to and occupy another location.
(Source: Laws 1959, p. 2228.)
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