In In Re Estate of Good, 2013 IL App (2d) 120875-U, the Second District strictly construed the business records hearsay exception and held that a single-page spreadsheet (the “Spreadsheet”), prepared specifically for litigation by one of the parties from various print and electronic sources, didn’t satisfy the business records admissibility rules. Facts: The plaintiff real estate auction company sued …
Category Archives: Civil Procedure
Lost Profits and Breach of Contract Damages: Illinois Law
In Santorini Cab Corporation v. Banco Popular, 2013 IL App (1st) 122070, the plaintiff cab company sued a bank for breaching two contracts to transfer taxicab medallions totalling $96,000 ($48,000 each). The plaintiff sought damages for lost profits (profits it would have earned had the bank transferred the medallions) and the increased value of the medallions as of the …
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The Negligent Misrepresentation Exception to Economic Loss Rule: The Information v. Tangible Product Dichotomy
The economic loss rule bars recovery in tort where the claim is essentially one for breach of contract. Lincoln Park West Condominium Association v. Mann, Gin, Ebel & Frazier, 136 Ill.2d 302, 307 (1990)(economic loss rule generally). “Economic loss” means (i) damages for inadequate value, (ii) costs of repair and replacement of the defective product, …