What to Know about Good Faith or Bad Faith – an illustrated easy guide
The implied covenant of good faith and fair dealing is implied in every contract. The implied covenant of good faith and fair dealing is what makes business work. It requires people to deal with one another fairly. Businesses and people can trust each other to enter into contracts because good faith requires them to help […]
Attorneys in Peoria Illinois
What Peoria Attorney do you need? The attorney you need depends on what goals you have. All you need to do is scroll through to find the right lawyer for your case. Family Lawyers in Peoria Illinois Many families require a lawyer at some point in their lives. For example, a divorce, adoption, many things […]
Commercial Mortgages
Commercial Mortgage Foreclosure The main collateral for many people and businesses is the real estate it owns. A commercial mortgage is a grant of a security interest on a parcel of the business’ real estate. Commercial mortgages allow for greater rights for the bank as compared to residential mortgages, which have greater consumer protections at […]
Pricing LLC Membership Interest
How are LLC Membership Interests Valued? Suppose a borrower claims to have a successful limited liability company, LLC. He claims that his membership interest in this LLC is valuable collateral that he wants to pledge to obtain another commercial loan. How should the commercial lender approach valuation of the LLC’s membership interest in determining how […]
Uniform Fraudulent Transfer Act
Effective January 1, 1990, Illinois adopted the Uniform Fraudulent Transfer Act. “The purpose of the Uniform Fraudulent Transfer Act is to prevent fraudulent transfers of property by a debtor who intends to defraud creditors by placing assets beyond their reach.” Zurich American Insurance Co. v. Personnel Staffing Group, LLC, 2018 IL App (1st) 172281, ¶18, 105 N.E.3d […]
Help I Was In a Wreck!!! When Should I Call My Attorney?
What your attorney can do for you & When DO you need the Attorney with you!! We’ve all seen people and their cars on the shoulder of the road or blocking the intersection and the police are there investigating and directing traffic around a collision. There are three times having an Attorney assisting you in […]
