Paul Porvaznik – Business Litigator
Case Notes and Summaries of Recent Cases (State and Federal Courts – Illinois Focus)
In Wheeling Park District v. Arnold (2014 IL App (1st) 123185)), the First District addresses whether a party suing on a contract must sign it in order to enforce it. The plaintiff Park District sued to enforce a severance agreement it reached with a former employee. Under the severance agreement, the District paid the employee three months of severance pay …
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Yes. Oral contracts are enforceable. The main exceptions are contracts governed by the Statute of Frauds (SOF), which requires certain contracts to be in writing. See 740 ILCS 80/1, 2; 810 ILCS 5/2-201. The Illinois Credit Agreements Act (ICA) also requires certain agreements to lend money in a commercial setting be in writing. 815 ILCS 160/1 et seq. I still use …
Continue reading “Oral Contracts in Illinois – Are they Enforceable?”