Can You Sue for Breach of Good Faith on Its Own in Illinois?
Why Illinois Treats Good Faith as Part of the Contract Key Takeaways: In most cases, you cannot sue for breach of good faith on its own in Illinois. Courts treat the implied covenant of good faith and fair dealing as a way to read a contract, not as a separate claim. A good-faith claim usually […]
How Long Do You Have to Sue for Breach of a Written Contract in Illinois?
Illinois Gives You 10 Years to Sue on a Written Contract, With Important Exceptions Key Takeaways: In most cases, you have 10 years from the date of the breach to sue for breach of a written contract in Illinois under 735 ILCS 5/13-206. The clock usually starts when the breach happens, not when the contract […]
What Is Anticipatory Repudiation?
Anticipatory repudiation occurs when one party clearly and unequivocally indicates, before performance is due, that it will not perform. Under Illinois breach of contract law, that declaration may let the non-breaching party treat the agreement as breached immediately rather than waiting for the performance date to pass. For a business staring at a vendor’s email […]
Are Liquidated Damages Clauses Enforceable in Illinois Business Contracts?
Understanding When Illinois Courts Uphold a Stipulated Damages Provision Key Takeaways: Liquidated damages clauses may be enforceable in Illinois business contracts, but generally only when they function as a reasonable pre-estimate of anticipated loss rather than a penalty designed to coerce performance. Illinois courts assess the clause as of contract formation, asking whether damages were […]
What Is the Illinois Fraudulent Transfer Act and How Does It Protect Creditors?
Protecting What You Are Owed: A Creditor’s Guide to Illinois Asset Transfers Key Takeaways: The Illinois Fraudulent Transfer Act (740 ILCS 160/1 et seq.), the state’s adoption of the Uniform Fraudulent Transfer Act, protects creditors by letting them challenge transfers a debtor makes to keep assets out of reach. The central remedy is avoidance: the […]
What Counts as a Breach of Contract in Illinois AI Vendor Agreements?
When AI Vendor Promises Fall Short in Illinois Key Takeaways: A breach of contract in an Illinois AI vendor agreement occurs when one party fails to perform a material obligation under a valid, enforceable contract without legal excuse. The breach must cause measurable harm, such as unmet accuracy benchmarks, repeated downtime, or discontinued updates. Four […]
AI Contract Disputes Are on the Rise — Are You Ready?
AI Contract Disputes Are on the Rise — Are You Ready? Artificial intelligence (AI) is rapidly transforming how businesses operate. It is also giving rise to a new category of legal disputes: AI-related contract litigation. These disputes are common whenever a new technology arrives. They often happen because either the seller or buyer — or […]
Breach of Contract: What to Do When You Suspect a Breach of Contract
As a business owner or manager, you’ve likely encountered situations where you’ve contractedwith another business for goods or services, but the goods or services weren’t appropriatelyprovided. This article is designed to equip you with the knowledge you need to handle asuspected breach of contract. An Oral Contract vs. a Written Contract If you don’t have […]
What Is a Material Breach of Contract?
A breach is material when it strikes at the core of the deal and leaves the agreement without real value. When a breach like that hits your business, a breach of contract lawyer in Chicago can help you decide how to respond. The question is what happens after someone has breached the contract. Everything depends […]
How to Calculate Damages for Breach of Contract
If another party breached your contract, you have a legal right to damages when you can prove your case. There are many measures of damages in a contract case, and you must be precise when you go to court seeking damages. Before you can go to court or negotiate a solution, you must know how […]