The summer of 2017 ushered in a slew of changes, to Illinois’ limited liability company statute, 805 ILCS 180/15-1 et seq. (the “Act”). Some of the key Act amendments included clarifying LLC member rights to access company records, explaining if and when a member or manager’s fiduciary duties can be eliminated or reduced, tweaking the …
Author Archives: PaulP
Appeals Court Gives Teeth to “Good Faith” Requirement of Accord and Satisfaction Defense
A common cautionary tale recounted in 1L contracts classes involves the crafty debtor who secretly short-pays a creditor by noting “payment in full” on his check. According to the classic “gotcha” vignette, the debtor’s devious conduct forever bars the unwitting creditor from suing the debtor. Whether apocryphal or not (like the one about the newly …
No Automatic Finality Where Pleading Never Amended After ‘Without Prejudice’ Dismissal – IL Court
Richter v. Prairie Farms Dairy, Inc.’s, (2016 IL 119518) essential holding is that a prior dismissal without prejudice doesn’t convert to a final order for res judicata or appeal purposes where a plaintiff fails to amend the dismissed pleading within the time deadline set by the court and the movant defendant doesn’t seek a dismissal …