Illinois Law Blog

Real Estate :Law Articles

Purchasing a home or business location is a big step. Ensure you know the laws regarding your matter by reading our Real Estate Law articles.

How to Collect a Debt in Illinois

how to collect a debt

If you are a small business owner dealing with past due accounts receivable, or if you are having trouble paying your monthly bills and are receiving notices from creditors, you should acquaint yourself with the collection process.  This article will provide a summary of that process.  The narrative will be from the creditor’s perspective, but it will be equally helpful to debtors.

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Illinois Trust Administration: Selling Real Estate

What Are The Responsibilities of a Trustee When Selling Real Estate? | Illinois Trust Administration

If you are a trustee responsible for the administration of a trust after the passing of a loved one, you have a fiduciary duty to act in the best interest of the beneficiaries of the trust, within the limitations and instructions laid out by the trust document.

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Guaranteed Maximum Price Construction Contracts

Illlinois construction contracts explained, Guaranteed Maximum Price Construction Contracts Explained

This article explains the basics of “Guaranteed Maximum Price” construction contracts, including an explanation of contingencies and allowances, two common components of these types of contracts.  For a broader discussion on general contractor agreements, check out our article: General Contractor Agreements Explained.  ​

In that article, we describe different types of pricing structures that can be used in general contractor agreements.  One of the most common price structures is for the owner to pay the contractor the cost of work plus the contractor’s fee. ​

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