A difficult economy, job losses or reduced hours and a shuttering of storefronts across the nation is making it more difficult for many Chicagoans to meet their financial commitments. While letting the family home go into foreclosure is not an easy decision, it can...
In Chicago, construction projects in residential areas might seem like a simple matter of the owner deciding what he or she wants done, finding a contractor, negotiating a price and moving forward. However, that is not always the case as there could be neighborhood...
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...
According to recent data, so far 2020 has seen fewer foreclosures than last year. November 2019 saw approximately 50,000 foreclosures. However, as of September 2020 only 10,000 homes were foreclosed upon. This should be good news for homeowners in Chicago, but this...
By Adam Whiteman, Commercial Collection Attorney The famed stage and film actor Will Rogers was fond of saying, “When you find yourself in a hole, quit digging”. This is the very reason why you may avoid taking steps to collect money for goods and services you have...
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...
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...
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...
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...
