Old Wine in New Cases

In Smart Oil LLC v. DW Mazel, LLC, the U.S. Court of Appeals for the Seventh Circuit confirmed that lawyers are essential in real estate transactions. The Seventh Circuit recognized its role in interpreting contracts and giving effect “to the intention of the parties as expressed in the agreed terms.” Lawyers are the client’s advocate, charged with articulating the client’s precise intentions in the agreement, and then guiding the transaction with careful attention to detail through closing. According to William J. Anaya in his January 2021 Illinois Bar Journal article, “Old Wine in New Cases,” Smart Oil offers insights to environmental and real estate lawyers and a cautionary tale for those who seek to cleverly avoid or circumvent settled law in modern real estate transactions. Anaya advises lawyers who represent sellers and buyers in transactions and litigation are well served in reading this Seventh Circuit’s primer on settled law in Illinois.

Read more in the January issue of the Illinois Bar Journal.