Bank and Borrower Did Not Collude to Injure Another LenderBy Michael L. WeissmanJune 2020In NearGear Capital, Inc. v. Bank of Springfield, the question was whether Bank of Springfield had colluded with its borrower, Gateway Buick GMC, Inc. to injure Gateway’s floor plan lender, NextGear Capital, Inc.
Do You Know Who You Are Dealing With? Get the Legal Business Name of Your CustomerBy Adam B. WhitemanNovember 2020If 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.
Failure to Review UCC Filings Leads to Loss for LenderBy Michael WeissmanDecember 2020In Metropolitan Capital Bank and Trust v. Feiner, the lender was suing the defendant for common law fraud and conspiracy to commit fraud. At issue was whether the lender was justified in relying solely upon the defendant’s fraudulent statements or had a duty to dig deeper.
The Fall of the PandemicBy Judge Michael ChmielOctober 2020A note from the editor, Judge Michael Chmiel.
For Everyone’s Sake: Get Terms of Commercial Credit in WritingBy James Richard Myers & Ariana E. ThurnauAugust 2020Although we may long for a world where such is not the case, oral agreements to extend or modify commercial credit terms are not legally enforceable in Illinois.
How Do You Verify the Identity of a Data Requestor?By David AdlerMarch 2020Under the California Consumer Privacy Act, companies must allow Californians to access the information held about them, or, in some situations, request that the information that they provided to a company be deleted. By keeping data minimization objectives in mind and not over-thinking compliance obligations, verifying the identity of a data requestor may be straight-forward.
The Illinois Bar Foundation Needs Your HelpBy Rory T. WeilerNovember 2020The Illinois Bar Foundation, which assists fellow lawyers who have fallen upon hard times, has acted quickly to address the economic crisis that has resulted from COVID-19.
Is Your Contract Immune to COVID-19?By Jonathan B. KamanJuly 2020COVID-19 will continue to cause attorneys to scrutinize force majeure clauses in an effort to guide clients through these unpredictable and unprecedented times.