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Business Transactions

Refi Mortgage Can Take Priority Of Prior Mortgage

Banking Law Roundup SharpThinking No. 173    Perspectives On Developments In The Law From Sharp-Hundley, P.C.      October 2019 Refi Mortgage Can Take Priority Of Prior Mortgage                                         By John T. Hundley, John@sharp-hundley.com, 618-242-0200 A mortgage…

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Verify Agent’s Authority When Making Contract

A party who fails to verify that a purported corporate representative has authority to make a contract on the corporation’s behalf assumes a risk that he does not under a recent decision by a panel of the Appellate Court in Chicago.

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Three-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.

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