Posts by Admin
Supreme Court Adopts New Foreclosure Rules
The Illinois Supreme Court has issued three new rules aimed at mitigating abuses and
uncertainty in mortgage foreclosures.
Not All Check Signers Are Fiduciaries, Court Says
Not everyone authorized to sign a check is a fiduciary for purposes of the Uniform Fiduciaries Act (760 ILCS 65), the Seventh Circuit U.S. Court of Appeals ruled last month.
Read MoreQuitclaim Buyer May Not Claim Breach of Contract
A buyer of property by quitclaim deed generally may not claim breach of contract when it learns that the seller did not have fee simple title, a panel in the Appellate Court’s Third District has held.
Read MoreCourt Levies Harsh Sanctions for Filing Bankruptcy Papers Without Actual Signature
There are no circumstances that would ever justify an attorney filing a bankruptcy petition, the
supporting schedules, or the debtor’s Statement of Financial Affairs (“SOFA”) without first obtaining
the debtor’s actual signature thereto, the chief judge of a Texas bankruptcy court has held.
Guaranty Triggered by Resistance to Foreclosure Is Enforceable, Court Says
By John T. Hundley, Jhundley@lotsharp.com, 618-242-0246
A provision making obligors personally liable if they resist foreclosure on an otherwise non-recourse obligation is enforceable, a panel of the Illinois Appellate Court in Chicago has held.
Foreclosure Judgment Not Final And Appealable, High Court Says
A mortgage foreclosure judgment generally is a “final order” but not a “final and appealable” order, the Illinois Supreme Court said late last month.
Read MorePrice Alone No Basis To Void Judicial Sale, Court Holds
Inadequacy of the sales price, standing alone, is not a sufficient reason to deny confirmation of a judicial sale, a panel in the Appellate Court in Chicago held late last month.
Read MoreThree-Year Statute Governs Conversion of Check
Conversion and negligence claims against a bank, arising from a lawyer’s forgery of a client’s
signature to a settlement check, are governed by the three-year statute of limitation of 810 ILCS 5/3-118(g), a panel in the Appellate Court’s Fifth District has held.
Judicial Estoppel Doctrine Continues To Evolve
The doctrine of judicial estoppel, which has become one of the most potent weapons against bankruptcy fraud (see Sharp Thinking No. 57 (February 2012), continues to evolve in the nation’s federal courts.
Read MoreNo “Subject Matter Waiver” of Privilege From Disclosure in Business Transaction
The doctrine of “subject matter” waiver of privilege does not apply to the extra-judicial disclosure of attorney-client communications not thereafter used by the client to gain an adversarial advantage inlitigation, the Illinois Supreme Court held late last month.
Read More