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Paul Porvaznik – Business Litigator

Case Notes and Summaries of Recent Cases (State and Federal Courts – Illinois Focus)

Tag Archives: limited partnership

‘Lifetime’ Verbal Agreement To Share in Real Estate Profits Barred by Statute of Frauds – IL 1st Dist.

I previously summarized an Illinois case illustrating the Statute of Frauds’ (SOF) “one-year rule” which posits that a contract that can’t possibly be performed within one year from formation must be in writing. Church Yard Commons Limited Partnership v. Podmajersky, 2017 IL App (1st) 161152, stands as a recent example of a court applying the one-year rule with …

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Posted byPaulPJune 2, 2017June 2, 2017Posted inCivil Procedure, Contract LawTags: Chicago, commercial real estate, CRE, limited partnership, one year rule, partial performance exception, Pilsen, Podmajersky, statute of frauds
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