By Andrew R. Schwartz | Published January 15, 2021 | Posted in Business Law, Contract Law, COVID-19 | Tagged Tags: breach of contract, COVID-19, force majeure, frustration of purpose, impossibility, impracticability | Comments Off on Can the Coronavirus Pandemic Excuse Performance of Contractual Obligations?
Can the Coronavirus Pandemic Excuse Performance of Contractual Obligations?
COVID-19 has had a devastating impact on the U.S. economy, and no less so in the Chicago area. Social distancing guidelines and other restrictions have caused downscaling and other disruption that may leave businesses unable to perform their contractual obligations in whole or in part. When faced with a claimed breach of contract, it may Read More
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Jacobs v. Yellow Cab Affiliation, Inc.
2020 IL App (1st) 182462 THIRD DIVISION December 9, 2020 No. 1-18-2462 IN THE APPELLATE COURT OF ILLINOIS FIRST JUDICIAL DISTRICT MARC M. JACOBS and DEBORAH JACOBS, Plaintiffs-Appellants, v. YELLOW CAB AFFILIATION, INC., and ) 15 L 4995CORNELIUS C. EZEAGU Defendants, (American Country Insurance Company, Citation Respondent-Appellee) Appeal from the Circuit Court of Cook County Read More
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Common Issues in Breaking Up Recently Founded Companies
No one goes into a business venture expecting it to fail, but any number of reasons can cause a recently-founded company to break up. Work styles or personalities may conflict or the founders may discover that they have different visions. You might also find that communication is strained or your co-founder isn’t contributing as much Read More
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Literally Taking the Case
In their December 2020 Illinois Bar Journal article, attorneys Andrew R. Schwartz and John Cerney present the following scenario: Without first consulting its lawyers, your firm’s major client, Hapless Client, LLC, entered into a horrible one-sided contract with Sketchy Business, Inc. To make matters worse, Sketchy just filed a contract claim against Hapless to enforce that contract, Read More
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How Will Coronavirus Affect Contractual Relationships and Obligations?
The coronavirus pandemic has disrupted practically every aspect of American life. Whether closed by government order or public safety concerns, millions of businesses around the country have come to a screeching halt.
Read MoreTom Kanyock Shares Insights on Direct vs. Derivative Standing Issues
Tom Kanyock discussed direct vs. derivative standing issues in Illinois and Delaware during a presentation for the Chicago Bar Association’s Business Divorce and Complex Ownership Committee.
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Claims Against Benefit Plan Sponsors Grow More Sophisticated
Lawsuits against sponsors of retirement plans have been fairly common over the past decade. Typically, these claims involved relatively obvious violations, like excessive costs, negligent oversight and other types of blatant mismanagement.
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Fraudulent Transfer Questions Cast Doubt on Oxycontin Settlement
A tentative settlement involving Purdue Pharma, the maker of Oxycontin, received great fanfare in the media, with the company claiming that it will pay at least $10 billion “to address the opioid crisis.”
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Pension Intercept Requested for East St. Louis Firefighters’ Fund
For the third time since enactment of the Illinois pension intercept law, a municipal employee pension board seeks to have city monies redirected to replenish long-neglected funds.
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Understanding Creditors’ Options When Enforcing Judgments
Whether you’ve won a legal case, performed professional services or leased commercial property to a tenant, collecting the payment often proves to be the toughest part of the task.
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