Changes to a contract might not be enforceable against a guarantor who has not agreed to those changes in writing. There are a number of ways this scenario could play out. For example, say your company has agreed to provide building materials to your client for a 1...
People change, and so do companies. Companies get reorganized, shut down, merged, and dissolved. All manner of things can happen to a company that can change its legal status. If a corporation is no longer in existence, then the contracts it entered into might become...
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 credit agreement. Don’t just accept the customer’s...
Adam Whiteman is proud to be included as a Coauthor of Chapter 1 of the venerated treatise "Turner on Mechanic's Liens" by Howard Turner. The publication is a comprehensive guide for attorneys seeking to understand the complex intricacies of the Illinois Mechanic's...
If your business supplies materials to customers on a credit basis, it is critical to assure that the person who places an order for materials was authorized to do so by the person/entity identified as the creditor on the credit agreement. This will be an essential...
When it becomes necessary to sue a debtor on a commercial debt, your lawyer will need to serve the defendant with a complaint and summon them to court. As it happens, the document demanding the defendant to appear before the judge is appropriately called a “summons”....
A guarantor is, in general, an individual who has agreed, in writing, to pay a debt if the original debtor is unwilling or unable. If you are in the business of supplying goods or services based on an underlying credit agreement, you should touch base with the...
Most companies in Illinois and around the country lease rather than own the offices, stores, factories and warehouses they occupy. While residential rental agreements are generally quite straightforward, commercial leases are often complex and filled with provisions...
The relationship between tenants and their landlords can be incredibly tricky to navigate if things happen to go wrong. Many questions tend to come up, such as, if the tenant has a desperate need for a repair in the premise and if he or she has notified the landlord...
Unexpected events in an Illinois homeowner's life may make it difficult or impossible to stay current on a home loan. These events may include a job loss, a sudden illness or a significant home repair bill. Those who fail to make even a single mortgage payment could...
