Illinois State Bar Association Publication May 2023 “You get what you deserve.” We have all heard this phrase used. Most commonly, it has a negative connotation. When you do something wrong, “you get what you deserve.” But when expressed in Latin, the phrase presents...
COVID-19 may be waning in intensity, but people and businesses are still sifting through the damage and grasping the new normal of remote employment, shrinking workspaces and unfulfilled leases. Because of that, the commercial real estate industry faces widespread...
In today’s economic environment, contractors are sometimes looking for any way possible to increase their bottom line. One such way can be described as overcharging or as a kickback. Overcharging or a kickback may occur when the building owner pays out a false or...
The goal of the moratorium on evictions is to protect financially vulnerable renters from homelessness during these tough economic times. However, without the ability to remove non-paying tenants, some landlords feel a new kind of anxiety that they never saw coming....
When your customer has built up a sizeable account receivable, consider asking them to sign a promissory note to secure payment. When customer is able to obtain materials from your company on a credit basis, there are times when they may incur a rather sizable debt....
A credit agreement is a contract. As such, you should retain the entire, original signed contract in your files, not just the signature page. I have noticed that some companies retain only the signature page of a credit agreement in their files. Often what happens is...
Purchasing a home may be the most significant investment you will ever make. As such, it’s important that you get a fair deal. No one wants to find out that they paid far too much for what they got. With that in mind, here are some tips for helping you reach a fair...
When you drop materials of at your customer’s warehouse or job site, take extra care to document the transaction and retain proofs of delivery. In a rush to get materials to a customer or job site, the drivers and warehouse workers may cut corners when it comes time...
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...
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...
