Landlords and tenants create legal relationships through the lease agreements that they execute. In Chicago, residential leases are governed by the provisions of the Residential Landlord and Tenant Ordinance (RLTO). The RLTO requires the parties to residential lease...
Month: November 2020
Dealing With The Difficult Debtor
It is a best practice to retain original documents signed by your customer. This would include the original credit agreement, signed purchase orders, signed delivery tickets, etc. Original documents are necessary tools for the courtroom lawyer if you need to sue to...
Elements of a real estate contract
Contracts are an important part of most real estate transactions. Contracts are used to outline the rights and obligations of parties to an agreement. It is helpful for those parties to understand the elements of a contract, what makes them valid and how to enforce a...
Get Written Confirmation of Amount Due Before Granting Payment Extension
When your customer asks for a payment extension, make sure to first obtain an agreement in writing regarding the exact balance that they agree is due. As a commercial collection attorney, I see all manner of defenses that a business will give in court for not paying a...
Do You Know Who You Are Dealing With? Get the Legal Business Name of Your Customer
By Adam Whiteman, Commercial Collection Attorney If you are entering in to a contract or a credit agreement by which you will be providing goods or services to another business, it is critical that you correctly identify your customer’s name on the contract and/or...