Mostardi Platt Environmental, Inc. v. Power Holdings, LLC, 2014 IL App (2d) 130737-U shows the importance of clarity in contract drafting – particularly compensation terms. The case also illustrates the crucial distinction between a time-and-expense (or time and materials) contract and a lump-sum payment contract. Plaintiff was hired to perform environmental assessment services and to secure government permits for …
Author Archives: PaulP
Illinois Fraud Law, Corporate Opportunity Doctrine and Recoverable Damages – A Case Note
The Court also affirmed summary judgment on the plaintiff’s fraud claims against its former corporate President defendant in Star Forge, Inc. v. F.C. Mason Co., 2014 IL App (2d) 130527-U. Plaintiff’s two-fold fraud claims were premised on (1) defendant misrepresenting to plaintiff the requirements of a big money contract involving John Deere so that a competitor of plaintiff’s …
Case Summary: Star Forge v. F.C. Mason (Part 1 of 2): Breach of Fiduciary Duty and Corporate Opportunity Rule (IL Law)
A corporate officer’s fiduciary duties to his corporate employer and the monetary damages that flow from a breach of those duties are two of the key issues dissected and applied by the Second District appeals court in Star Forge, Inc. v. Ward, 2014 IL App (2d) 130527-U. Plaintiff was a steel company that sued its former President …