Category Archives: Contract Law

Illinois Business Records: Getting Them In at Trial

I’ve learned from painful experience to always have evidentiary foundation and authenticity considerations at the forefront of my trial preparation plan.  I’ve also found that having a working knowledge of Illinois Supreme Court Rule 236 (SCR 236), as well as Federal and Illinois Evidence Rules 803(6) and 902(11) (hearsay exception and self-authentication rules for business records, respectively) is essential to preparing for and …

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Integration Clause, Justifiable Reliance and Limited Guaranties: IL Basics

The limited guarantor won big in Ringgold Capital IV, LLC v. Finley, 2013 IL App (1st) 121702, a case that vividly captures how important it is for a lender to correctly document a loan. After a borrower defaulted on the underlying loan, the plaintiff sued to foreclose its mortgage and on the guaranty. The trial court dismissed …

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Oral Contracts in Illinois – Are they Enforceable?

Yes.  Oral contracts are enforceable.  The main exceptions are contracts governed by the Statute of Frauds (SOF), which requires certain contracts to be in writing.  See 740 ILCS 80/1, 2; 810 ILCS 5/2-201.  The Illinois Credit Agreements Act (ICA) also requires certain agreements to lend money in a commercial setting be in writing. 815 ILCS 160/1 et seq. I still use …

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