Generally the law in Illinois states that a guarantor is entitled to assert the same defenses that would be available to the principal obligor. W.W. Merck White Lead Co. v. McGahey, 159 Ill.App. 418 (1st Dist. 1911). “Under Illinois law, ‘the liability of a guarantor is limited by and is…
On Oct. 28, 2013, Robert Skahill signed a contract with Metropolitan Properties & Development Inc. The contract called for him to buy the property from Metropolitan for $3.1 million. Skahill was required to put down $50,000 as earnest money of which $5,000 was due on the signing of the contract…
The Neck & Back Clinic in Chicago was providing physical rehabilitation services to patients. In 1998, the clinic signed a series of leases for exterior building wall space to advertise its services. The clinic leased that advertising space through a company called Travisign, operated by David Travis. The Neck &…
In 1986, Nina Willoughby operated a small business in which she sold retail clothes in a rented store. That year, she and Louis Fideli took out a $315,000 loan and purchased the store with other properties. The store property was kept solely in Fideli’s name. However, in 2003, Willoughby missed…
The Illinois Appellate Court has affirmed a Cook County trial judge’s order regarding the effect of an attorney’s lien notice sent to a defendant’s attorneys rather than the defendant directly. Randy Brown was the owner and operator of a Harold’s Chicken Shack in suburban Broadview, Ill., until Jan. 15, 2009.…
In October 2006, Stericycle Inc. entered into a contract with RQA Inc. to buy a segment of its business for $8 million. Stericycle acquired the unlimited right to use RQA’s software. In addition, the two companies entered into a non-competition agreement. In 2010, the two companies contracted again, this time…
Late in 2002, the developer of 1717 S. Prairie Ave. in Chicago, Ill., retained the defendant Hansen & Hempel Co. to complete the masonry work for a 23-story condominium complex. When the building was nearly finished in March 2004, it started to experience water leakage. The condominium association, Board of…
Larry Fabian was hired in 2001 by Cantor Fitzgerald to be a broker at the Chicago Mercantile Exchange. In 2007, he was transferred to BGC, which was a spinoff company of Cantor Fitzgerald. In 2008, Fabian was named as a partner of “Founding Partner No. 69.” According to Fabian, he…
At the beginning of January 2015, the Law Division of the Circuit Court of Cook County, Ill., will begin its new mandatory arbitration program for certain cases. The program is targeted for cases that have value of less than $75,000. In order to file and hear a case in Law…
An industrial design firm, nClosures, produced metal cases for tablet computers, such as the iPad. Ian LeBlanc designed a case for nClosures in early 2011 called the Rhino Elite. In May 2011, the co-founders of nClosures attended a tradeshow in Chicago to showcase the Rhino Elite prototypes. At the tradeshow,…