A complicated Letter of Intent (LOI) involving parties to a planned car sales venture lies at the heart of Dicosola v. Ryan, 2015 IL App(1st) 150007, a case that addresses the level of consideration required to support a written contract in Illinois. The plaintiff alleged that under the LOI, the defendant was to invest $1M …
Tag Archives: breach of contract
Time Of Essence Clauses and Installment Payments: How Late Is Too Late?
In Handler v. Johnson, 2015 WL 4506712 (N.D.Ill. 2015), a bankrupt debtor’s adversary moved to reopen a case after the debtor was late on two installment payments under a settlement agreement. The creditor, a lawyer who previously represented the debtors in unrelated litigation, sued to recover about $21K in attorneys’ fees owed from the prior representation. The debtors previously …
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Corporate Officer Can’t Tortiously Interfere with His Company’s Contract; No Punitives for Breach of Contract – ND IL
In Richmond v. Advanced Pain Consultants, P.C., 2015 WL 4971040 (N.D.Ill. 2015), the plaintiff sued the defendants – two companies that operated suburban (Chicago) pain clinics and their doctor principal – claiming several thousand dollars in unpaid computer and accounting services plaintiff performed at the clinics over a several-month period. The plaintiff brought claims for overtime under the Federal Fair Labor Standards …