June 2019

630-517-5529

2021 Midwest Road, Suite 200, Oak Brook, IL 60523

Month: June 2019

By Ronnie Farhat, Esq.

In a perfect world, all contracts we enter into would go accordingly to plan. Unfortunately, the world isn't perfect and breaches happen. Whether you are dealing with a contract issue as an individual or as a business, it is important to have a basic understanding of what tends to happen when a contract is breached and what the potential remedies might be for you and your business in such a circumstance. As an Illinois contract lawyer, I will share the basics of breaches of contracts.

What is a breach of contract?

A breach of contract occurs when a party to a contract fails to perform one of their contractual obligations or a provision of the contract itself is otherwise violated. Breaches come in many different types; they can occur intentionally or unintentionally, be minor or major (i.e. material), actual or anticipatory.

*Before going any further, it is important to note that every contract is different. If you believe you or another party to a contract you entered into may have violated its terms, you should find a contract review attorney as quickly as possible to determine what your next steps should be.

What type of breach are we dealing with?

When a lawyer is confronted with a potential breach of contract issue from a client, the first thing they will want to do is review the contract in its entirety to become familiar with its terms. After a ...
It's a total contract myth that there are 'standard' contracts or contract terms. I've even heard other attorneys improperly stating that parties can not agree to terms because it's not 'standard.' The truth is that contracts are living, breathing documents that can be changed to suit people's needs and as long as the courts or law do not prohibit certain clauses, the parties can agree to it. On the flip-side, just because a contract term is 'standard' does not mean a court will or not will not enforce it and that you can't negotiate the terms. The purpose of this article is explore what people mean by 'standard' contracts, how and when to negotiate those terms, and what happens in court with 'standard contracts.'

What is a 'Standard Contract' or 'Standard Term'?

I typically people refer to 'standard' contracts in two contexts: 1) a company telling a customer to sign terms that 'just standard' and 2) when parties negotiating a contract and insist on arbitrary 'standard' terms. There is in fact no such thing as a 'standard' anything in contract. There are terms common and typical to a specific industry, there may be industry standards that are in contracts, legal requirements for certain transactions, and there are 'boilerplate' terms, but from a legal standpoint, there is no law that requires parties to contract to certain terms. Common industry standards include requiring parties to carry certain types of insurance or expect a certain quality of work, but they are not legal requirements for a ...
By Ronnie Farhat, Esq.

The vast majority of lawsuits in the United States do not go to trial. Litigation is an extremely draining process, both financially and emotionally, for all parties involved. As a result, the vast majority of lawsuits that are filed are ultimately resolved through settlement. Assuming you are already involved in a lawsuit either as the plaintiff (the person who filed the lawsuit) or a defendant (someone who the lawsuit was filed against), here are some of the factors you should consider to determine whether it is appropriate to settle at any given stage of the litigation. This article is perfect if you need to start or are involved in a lawsuit and need a business law attorney, business contract attorney, or business litigation attorney.

What Are Your Goals?

First, it is critical that you have a strong understanding of what your goals are in the business litigation. Are you seeking to recover money for something that happened to you or your business? Do you have a contract dispute? Were you named as a defendant and are simply seeking a to get out of the lawsuit, or do you have potential countersuit? Regardless of the situation, once you know what your goals are in the litigation, you will then be able to assess whether to settle with the opposing party . Just as with any other negotiation, you should also work to have a proper understanding of the opposing party's goals as ...