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Litigation

Breach of Contract and Contract Disputes

Remedies for Breach of Contract Explained | Illinois Contract Remedies

Remedies for Breach of Contract Explained | Illinois Contract Remedies

In this article, we will explain some of the remedies most commonly used for breach of contract cases. Five remedies for breach of contract include: “Award of Damages”, “Restitution”, “Rescission”, “Reformation”, and “Specific Performance”.

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When is a Contract Unenforceable?

When is a Contract Unenforceable?

In this article, we answer the question, “When is a Contract Unenforceable?”  In doing so, we will discuss what it means for a contract to be unenforceable and explain eight situations in which a contract is unenforceable, including: Lack of Capacity, Coercion, Undue Influence, Misrepresentation and Nondisclosure, Unconscionability, Public Policy, Mistake, and Impossibility.

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Illinois Default Judgments Explained

Illinois Default Judgments Explained

In this article we will explain default judgments in Illinois. We will answer the questions: “what is a default judgment?” and “what is a prove-up for a default judgment?”  We will also explain what it means to vacate a default judgment in Illinois,

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What is Consideration in a Contract? | Consideration in Contract Law Explained

What is Consideration in a Contract? | Consideration in Contract Law Explained

In this article we will answer the question “what is ‘consideration’ in a contract?” When discussing contracts and contract law, the term “consideration” is often mentioned. In relation to a contract, consideration refers to what each party will receive as a result of the contract, also known as “bargained-for exchange.”

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How Old Do You Have to Be to Sign a Contract in Illinois? | Can Minors Sign Legal Documents?

How Old Do You Have to Be to Sign a Contract in Illinois? | Can Minors Sign Legal Documents?

In this article, we will answer the question, “how old do you need to be to form a contract?”  We will explain what happens if minors enter into a contract, situations in which minors are permitted to enter into contracts, and situations in which the legal age to enter a contract is older than the age of majority.

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Is a Contract Valid if Not Countersigned? | What if Only One Party Signs A Contract?

Is a Contract Valid if Not Countersigned? | What if Only One Party Signs A Contract?

In this article, we will answer the question: “Is a contract valid if only one party signs it?”  Written contracts are part of a business’s daily reality, and businesses and contractors alike depend on contracts to successfully operate and run their business. There are many complexities and intricacies of contract law.

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What is a Breach of Contract?

What is a Breach of Contract?

In this article, we will answer the question “what is a breach of contract?” and explain when a breach of contract occurs according to Illinois contract law.  We will explain when a contract is valid in Illinois and answer the question “can I be held liable for breach of an oral contract?”  Finally, we will explain the definition of an “anticipatory breach of contract” as well as a “material breach of contract.” 

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How to Collect a Debt in Illinois

How to Collect a Debt in Illinois

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.

Bear in mind that each of the following steps tends to increase the pressure on the debtor to settle his debt.  Each successive step will only be required if the debtor is non-responsive to the previous steps.  In practice, it is usually unnecessary to take a collections case all the way through Step 7.

STEP 1:  Internal collections procedures:  Before you speak to a collections attorney, you should be sure to refine your own collection procedures.  Every business is different, but the following tips may help you increase your collections on your accounts receivable:

  • In your contracts with your customers, include an attorney-fee provision providing that if either party is required to take action to enforce the contract, the other party will be required to pay attorney fees and other expenses.
  • In your contracts with your customers, include a late fee provision, informing your customers that late fees will be charged on late invoices.
  • On the face of each invoice, you should explain your collection procedures.  Let your customers know in advance that if their invoice is x days past due they will be required to pay late fees, and that if it becomes days past due, the invoice will be sent to collections.
  • Follow up on past due invoices with letters explaining the consequences of continued failure to pay.

If you believe that it will not be possible to collect an account internally, you should hand the account to your attorney to begin a collection suit.

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