Illinois Supreme Court Limits Recourse Against Subcontractors in Residential Construction
[vc_row][vc_column][vc_column_text] What happens when you buy a newly constructed house and you move in only to find that there are defects in the construction which result in the house not being reasonably fit for its intended use as a residence? In Illinois the courts have created an implied warranty of habitability which is made part […]
Illinois Now Allows Real Estate Owners to Bond Over Mechanic’s Lien Claims
[vc_row][vc_column width=”5/6″][vc_column_text]Effective January 1, 2016, Illinois has enacted a significant change in how mechanic’s lien claims may be litigated. Currently, mechanic’s lien litigation can tie up title to real estate for months, or even years, while the various rights of multiple lien claimants, lenders, and owners of real estate are resolved by the courts. Beginning […]
Illinois Credit Agreements Act
[vc_row][vc_column width=”5/6″][vc_column_text]The process for negotiating a loan can often lead to disagreements between a borrower and a lender as to whether a loan commitment was made, or what the terms of the loan are. In Illinois, the Credit Agreements Act attempts to provide some certainty for parties in the loan negotiation process. The Credit Agreements […]
