Paul Porvaznik – Business Litigator
Case Notes and Summaries of Recent Cases (State and Federal Courts – Illinois Focus)
Clean the Uniform Co. St. Louis v. Magic Touch Cleaning, Inc., 300 S.W.3d 602 (Mo. 2009), a case from a jurisdiction I don’t practice in and that involves an unsexy fact pattern and monetary amount (less than $20K), still has some across-the-board relevance for its examination of liquidated damages clauses and the commercial frustration contract …
Continue reading “Commercial Frustration and Prior Material Breach – Mizzou Appeals Court Weighs In”
Contract rights are assigned fairly often, especially in the mortgage loan and credit card contexts. In the former mortgage scenario, it’s common for a promissory note to be assigned multiple times during the note’s lifespan. When there’s eventually a note default, it becomes a challenge for the noteholder to trace how it came into the …
Continue reading “Assigning A Breach of Contract Claim In Illinois and The Available Defenses”
Aside from delving into some unique issues that crop up in corporate guaranty suits, Williamson Co. v. Ill-Eagle Enterprises, Ltd., 2015 WL 802250, the case I featured yesterday (http://paulporvaznik.com/business-compulsion-duress-and-guaranties-signed-after-the-underlying-contract/7667) also provides some lost profits essentials adapted to a new(ish) business relationship. In the case, the home decor designer who vends to large retailers (think Bed Bath …
Continue reading “Lost Profits and the ‘New Business Rule’ – A Short and Sweet One”