After a hacker accessed its on-line banking system and wired about $125,000 from its account, a healthcare firm sued its former (and now defunct) bank for breach of contract, negligence and breach of the implied duty of good faith and fair dealing. The FDIC substituted in as defendant after it was appointed receiver of the …
Category Archives: Real estate litigation
Illinois Joint Ventures – Features and Effects
Primo v. Pierini, 2012 IL App (1st) 103553-U discusses the key elements of a joint venture and how it differs from other common business arrangements. The plaintiff contractor sued a construction manager to recover about $300k in building improvements it made in building a Chicago restaurant. The construction manager was hired by the restaurant owner and was actively involved in …
Continue reading “Illinois Joint Ventures – Features and Effects”
Accord and Satisfaction: Quick And Dirty
Accord and satisfaction is a legal device utilized to satisfy a monetary obligation when there is genuine confusion as to how much is owed. It can streamline litigation by eliminating the need for a trial on a contract action based on the parties’ conduct. An accord and satisfaction’s key elements are: (1) a good faith …