In a case that invokes Hadley v. Baxendale** – the storied British Court of Exchequer case published just three years after Moby-Dick (“Call me ‘Wikipedia’ guy?”) and is a stalwart of all first year Contracts courses across the land – the Seventh Circuit reversed a multi-million dollar judgment for a furniture maker. The plaintiff in JMB Manufacturing, Inc. v. …
Tag Archives: Chicago
Commercial Landlord Not Entitled to Double Rent Under Holdover Statute Where Tenant Had Legitimate Belief It Had Right to Possess Space – IL 1st Dist.
I’ve written on here before about how a tenant holding over after a lease expires can lead to a serious case of option paralysis for the landlord. Questions abound in rapid-fire fashion: should the landlord accept the holdover and continue the lease on the same terms as before? Should the landlord seek double rent under the forcible statute? Should …
The Statute of Frauds ‘One-Year Rule’ (IL Law Basics)
The Statute of Frauds (SOF) requires certain contracts to be in writing to be enforceable. (See earlier post here). 740 ILCS 80/1; 810 ILCS 5/2-201 (UCC analog). The SOF’s “one-year rule” posits that any contract that can’t possibly be performed within the span of one year from the date of making must be in writing. The purpose of the one-year …
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