7th Circuit Extends New Standing Rules, But Open Dissent Develops
Sharp Thinking No. 209 Perspectives on Developments in the Law from Sharp-Hundley, P.C. May 2022 7th Circuit Extends New Standing Rules, But Open Dissent Develops By John T. Hundley, Sharp Thinking Editor In past issues of this newsletter, we’ve covered the new standing rules handed down by the Seventh U.S. Circuit Court of Appeals…Read More
Mortgage Loan Acceleration Provisions Require Strict Compliance, Court Rules
Mortgagees and their counsel had better pay close attention to the acceleration terms of their
mortgages before foreclosing as a result of a recent decision of the Appellate Court in Chicago.
Three-Year Statute Applies To Misapplied Deposits
The three-year statute of limitations of Uniform Commercial Code § 4-111 (810 ILCS 5/4-111) applies
to a lawsuit pleaded as a common-law breach-of-contract case if the claim is related to banking transactionsinvolving negotiable instruments, a panel of the Appellate Court in Chicago has reiterated.
Successor Agents Do Not Owe Fiduciary Duties To Principal Until They Take Office
The Appellate Court recently confronted a novel issue over whether a successor agent under apower of attorney owes a fiduciary duty to the principal before he becomes the attorney-in-fact.Read More
Appeals Court Reins In CFPB
A three-judge panel of the U.S. Court of Appeals for the District of Columbia Circuit dealt a significant blow to the Consumer Financial Protection Bureau (CFPB) last month in a 101-page opinion that overturned the bureau’s enforcement action against PHH, a New Jersey mortgage lender,Read More
Former Defendants May Be Respondents In Discovery
Nothing prevents an amended complaint from naming as respondents in discovery persons who had been named as defendants in the original complaint, according to a 2-1 decision of a panel of the Illinois Appellate Court in Chicago.Read More
Excess Litigation Results in Holding Fee Award Non-Dischargeable in Bankruptcy
The Seventh Circuit U.S. Court of Appeals has ruled that attorney fees ordered to be paid by one spouse to the other spouse’s attorney in a domestic proceeding, as a result of that party’s unreasonable approach to litigation, are non-dischargeable in bankruptcy.Read More