BBCN Bank v. Sterling Fire Restoration, Ltd., 2016 WL 691784 homes in on the required showing to win a motion for judgment on the pleadings in Federal court, the scope of a general release, and the UCC section governing joint payee or “two-party” checks. The plaintiff, an assignee of a fire restorer’s claim who did …
Category Archives: Business Torts
Lost Profits: Direct Or Indirect Damages? (And Why It Matters)
Two species of compensation in breach of contract lawsuits are (1) direct damages and (2) indirect damages. The former allows a plaintiff to recover money damages that flow directly from a breach while the latter – sometimes labeled “consequential” damages – are more remote and separated from the breach. Deciphering the difference between the two …
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Creditor (Bank) -Debtor (Borrower) Relationship Not A Fiduciary One – IL First Dist. (I of II)
Kosowski v. Alberts, 2017 IL App (1st) 170622 – U, examines some signature commercial litigation remedies against the factual backdrop of a business loan default. The plaintiffs, decades-long business partners in the printing and direct mail industry, borrowed money under a written loan agreement that gave the lender wide-ranging remedies upon the borrowers’ default. Plaintiffs …