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...
The credit agreement is used differently and means different things to those involved in a commercial transaction. To the vendor, the credit agreement is a way to gather information about a prospective customer. With this information, the vendor has a means of...
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 business cannot survive without a constant flow of capital. You and your team may be doing everything right, but if your customers are not paying you what they owe, things can get problematic very fast. In an ideal world, your clients pay in full, on time, with...
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...
