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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. Despite the overwhelming effect of COVID-19, an “Act of God” clause in a business contract may not let a party ignore its contractual Read More

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ESI Discovery Issues in Business Litigation

Electronically stored information (ESI) has revolutionized the business world. Unfortunately, the law has not entirely caught up. One vexing problem involving ESI occurs in litigation involving breaches of fiduciary duty and business oppression. Minority owners in corporations, LLCs and partnerships have limited statutory rights to view records, and as litigants, have the right of discovery. Read More

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FAQs About Corporations

FAQs About Corporations Q.  What is a “corporation”? A.  A corporation is a type of business organization recognized by Illinois law.  Shares of stock evidence its ownership, and the owners are called “stockholders” or “shareholders.” Q.  What are the benefits of incorporating a business? A.  Corporations are popular for start-up businesses because they (1) allow Read More

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Business Litigation FAQs

Q.        What is “business litigation”? We use the broad term “business litigation” to describe any litigation for control of a privately-owned company.  Other terms we frequently see are “freeze-outs,” “squeeze-outs,” “business divorces,” “oppression” and “breach of fiduciary duty.” Q.        What usually causes “business litigation”? Greed, dishonesty and ego.  Business litigation cases often arises when one Read More

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More Contract Law FAQs

Contract law can prove quite complicated.  This post addresses additional FAQs. Q.        What constitutes “performance”? A party “performs” by doing what the contract requires.  Performance may become disputed, especially where the contract is unclear. Q.        What are my remedies if the other party breached our contract? The type of transaction and the contract terms may Read More

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Contract Law FAQ

Much of our practice – both litigation and transactional – involves contracts.  This blog post discusses common issues relating to contract law. Q.        What is a “contract”? A “contract” is an enforceable agreement.  The party seeking to establish a contract generally must show: (1) an offer, (2) an acceptance, (3) a lawful purpose, and (4) Read More

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