The First District recently considered whether a contract that could only be ended on both parties’ written consent was too indefinite and “perpetual” to be enforceable. In Rico Industries v. TLC Group, Inc., 2014 IL App (1st) 131522, the parties entered into a sales contract where plaintiff would sell products to Wal-Mart through defendant – the retailing monolith’s …
Category Archives: Contract Law
Illinois Guaranty Law: Increasing Guarantor’ Risk or Changing the Terms = Discharged Guaranty
In Southern Wine and Spirits of Illinois, Inc. v. Steiner, 2014 IL App (1st) 123435, the First District outlined and applied the rules governing the interpretation and enforcement of written guaranty agreements in Illinois. The plaintiff wine distributor purchased the assets of another distributor that had previously entered into a contract with a liquor store company; a contract personally guaranteed by the …
Suit Against Home Inspector Thrown Out Based on Contractual Liquidated Damages Clause and Disclaimers
In Boshyan v. Private I. Home Inspections, Inc., 2014 IL App (1st) 287715, the First District examines the interplay between a liquidated damages provision and limitation of liability language in a written home inspection contract. The plaintiff home buyer sued his home inspector for breach of contract after the plaintiff encountered property defects after he moved …