Letter of Intent for Commercial Real Estate Sales A letter of intent for the purchase/sale of a commercial real estate parcel (“LOI”) is a very important part of the contract negotiation process and must be handled properly. The primary objective and reason for utilizing a LOI is to memorialize the essential business terms of the […]
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EmailIllinois Supreme Court Extends Factors to Consider when Determining Enforceability of Restrictive Covenants
Illinois Supreme Court Extends Factors to Consider when Determining Enforceability of Restrictive Covenants On December 2, 2011, the Illinois Supreme Court ruled in an unanimous decision in Reliable Fire Equipment Company v. Arnold Arredono (2011 IL 111871) that there are additional factors that courts should consider when determining the protectability of a legitimate business interest […]
What Happens when a Fiduciary is the Benefactor of a transfer made by the Principal?
What Happens when a Fiduciary is the Benefactor of a transfer made by the Principal? Question: What happens in Illinois when a power of attorney or other fiduciary ends up being the primary benefactor of a transfer made by the Principal? Answer: It depends. Unfortunately, there is no simple answer to that question as Illinois […]