In JPMorgan Chase Bank, N.A. v. East-West Logistics, LLC, 2014 IL App (1st) 121111, the Illinois First District affirmed summary judgment for the plaintiff bank in its lawsuit for breach of a commercial guaranty. In doing so, the Court re-emphasized the key rules governing affirmative defenses, the nature of a guarantor’s liability in Illinois and the content of a proper summary …
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Construction Contract Ambiguity: Court Considers Expert Testimony To Clarify Contract Terms
A construction site injury provides the setting for the First District’s recent application of Illinois contract interpretation rules to the question of when and how contracting parties’ prior course of dealing can inform the court’s analysis of an ambiguous written agreement. In Gomez v. Bovis Lend Lease, 2013 IL App (1st) 130568, the plaintiff plumbing subcontractor was injured when …
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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