How meta is this fact pattern? Peabody-Waterside v. Islands of Waterside, LLC, 2013 IL App (5th) 120490, examines the distinction between LLC entity liability and an LLC member’s personal liability through the lens of a mechanics lien claim filed against an LLC by one of its own members. Recall that Illinois law recognizes a clear line …
Tag Archives: LLC
‘Your Check Bounced Like a Superball®!’ – Bad Check Laws in Illinois – Civil Liability
(photo credit: www.sportsunlimitedinc.com) The civil provisions of the Illinois Deceptive Practices Act, 720 ILCS 5/17-1 (a criminal statute), govern situations where a defendant issues bad checks with intent to defraud. Section 5/17-1(B) provides: (B) Bad checks. A person commits a deceptive practice when: (1) With intent to obtain control over property or to pay for …
Illinois Contractor’s Lien Issues: The Enhancement Rule
The enhancement doctrine comes into play when liened property goes to foreclosure sale and the sale proceeds are insufficient to pay off both the lender and competing lien claimants. The lender, who often records its mortgage before the contractor’s lien attaches, will argue that its mortgage interest takes priority over the contractor’s lien and any property sale proceeds …
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