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Illinois Business Law Questions & Answers
0 Answers | Asked in Business Law and Tax Law for Illinois on
Q: Difficulty accessing 401(k) due to SSN error between two employers and Fidelity.

I'm seeking legal guidance regarding an ongoing issue with accessing my 401(k) account through Fidelity, involving my two employers. I work PRN for Enhance Therapies, which created a 401(k) account for me. My main employer also has a 401(k) through Fidelity that is fully accessible. The issue... View More

0 Answers | Asked in Contracts and Business Law for Illinois on
Q: Is working for a company 20% owned by my previous employer a breach of a non-compete?

I am currently bound by a two-year non-compete agreement from my previous employer. I've taken a job with a company that is 20% owned by my former employer, but the non-compete does not mention working for companies partly owned by them. Is this allowable, and could it cause any legal issues?

1 Answer | Asked in Business Law, Contracts, Civil Litigation, Consumer Law and Personal Injury for Illinois on
Q: How can I hold a contractor liable for poor work and possible fraud in Illinois?

I hired a contractor in December 2024 who provided a purported license and insurance, but I cannot verify him as a registered contractor. He did roofing and plumbing that was not up to code, and I've already filed against him with professional regulation. He claimed to repair severe termite... View More

James L. Arrasmith
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answered on Apr 14, 2025

It sounds like you’ve encountered a serious situation, and it’s understandable that you want to hold the contractor accountable. The first thing you should do is check if the contractor violated any local or state laws regarding licensing. Even if he is not a registered contractor, he could... View More

3 Answers | Asked in Bankruptcy and Business Law for Illinois on
Q: Can I remove a co-borrower from a mortgage due to their bankruptcy and late payments after a forbearance filed without my knowledge?

I am on a joint mortgage loan with a co-borrower who has filed for bankruptcy and is currently unemployed. The co-borrower filed a forbearance without my knowledge, but continued to be late on payments afterward. I would like to know if I can remove the co-borrower from the mortgage loan due to... View More

W. J. Winterstein Jr.
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W. J. Winterstein Jr.
answered on Apr 12, 2025

Even if the underlying indebtedness of your co-borrower is somehow discharged, you as a co-borrower cannot compel the removal of that co-signor absent an agreement with the creditor to do so. And in my experience, it would take a substantial payment to the creditor to get that done.

Be...
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2 Answers | Asked in Bankruptcy, Business Law and Tax Law for Illinois on
Q: Can the IRS pursue personal assets for LLC tax penalty?

I have a manager-managed LLC, Hunter LLC, created for producing an indie film, and I am a member. The LLC is managed by another LLC, Skyfire Productions LLC, of which I am the only member. I usually file taxes by March 15th, but last year, I mistakenly didn't hit "submit" on the tax... View More

Timothy Denison
Timothy Denison
answered on Apr 11, 2025

No. they cannot

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1 Answer | Asked in Business Law and Contracts for Illinois on
Q: What are the requirements for attesting the destruction of confidential information in Illinois?

I need to understand the requirements for an attestation related to the destruction of confidential information as part of a business agreement. What legal standards or guidelines should be followed in this process?

James L. Arrasmith
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answered on Apr 11, 2025

In Illinois, when confidential information is destroyed as part of a business agreement, specific legal standards must be followed to ensure compliance. The Illinois Personal Information Protection Act (815 ILCS 530/40) mandates that materials containing personal information be disposed of in a... View More

2 Answers | Asked in Contracts and Business Law for Illinois on
Q: Can a cosigner take a car if payments are current?

I have a car loan where both the loan and the title are in my cosigner's and my name. Despite making all payments on time, my cosigner and I have had disputes, and I'm concerned these might escalate. Can my cosigner legally take the car from me?

Tim Akpinar
Tim Akpinar
answered on Apr 16, 2025

Read the contract closely, particularly sections about damages and remedies - and seriously consider a consult with an Illinois attorney with experience in auto financing agreements, particularly if the agreement stipulates that disputes shall be governed by Illinois law or in Illinois courts. Good... View More

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1 Answer | Asked in Business Law for Illinois on
Q: if I use subcontractors to do work and they do something wrong am i liable
James L. Arrasmith
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answered on Apr 13, 2025

If you hire subcontractors to do work, you might still be held responsible if something goes wrong. It depends on the specific situation and your role in overseeing the work. Even though subcontractors are independent, you could be liable if their actions cause harm, damage, or violate any... View More

2 Answers | Asked in Copyright, Internet Law, Business Law and Intellectual Property for Illinois on
Q: Is permission required to read and record books for a preschool reading app?

For a web app in development showcasing reading circles for preschoolers and parents, where parents pay to join a live 30-minute storytime with up to eight participants, would permission be needed from publishers to have their books read if the sessions are recorded and stored for later access? The... View More

Jeremy Malcolm
Jeremy Malcolm
answered on Mar 24, 2025

Yes, you would need to obtain a license from the publisher in order to legally do this.

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1 Answer | Asked in Business Law, Contracts and Consumer Law for Illinois on
Q: Legal options for account suspension and demand compliance from manufacturer in IL.

As a furniture retailer, I've been purchasing $300,000 to $400,000 worth of products from a brand-name manufacturer, which we resell both in our showroom and online. Recently, the manufacturer accused us of violating their minimum pricing rules and suspended our account. They demanded that we... View More

James L. Arrasmith
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answered on Apr 11, 2025

That’s an incredibly difficult position to be in, especially after building a strong purchasing relationship and investing heavily in their products. If the manufacturer has suspended your account and is blocking you from selling or fulfilling confirmed orders, you may have grounds to challenge... View More

1 Answer | Asked in Contracts, Estate Planning, Probate and Business Law for Illinois on
Q: Illinois law on limited partnership interest transfer vs. will

I am dealing with a situation involving a limited partnership contract that includes an article specifying how a partner's interest is transferred to heirs. However, there is a conflicting will that contradicts these terms. I need to understand which Illinois laws govern limited partnership... View More

James L. Arrasmith
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answered on Apr 12, 2025

Illinois Limited Partnership Interest Analysis

Under Illinois law, limited partnership interests are primarily governed by the Illinois Uniform Limited Partnership Act (805 ILCS 215/), which explicitly grants significant authority to the terms of the partnership agreement itself. When...
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2 Answers | Asked in Estate Planning, Business Formation and Business Law for Illinois on
Q: Conflict between Italian citizen's will and Illinois partnership agreement.

I have a question regarding a conflict between testamentary dispositions and partnership rules. An Italian citizen, who was a resident and deceased in Italy, left a will with provisions contradicting a partnership agreement made years ago in the USA (specifically Illinois). The partnership... View More

Anthony M. Avery
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answered on Mar 17, 2025

You are going to need an IL attorney in addition to the Italian probate attorney. But whatever the decedent actually owned in the partnership will then go through his Estate, regardless what the will claims it is. Decedent does not get to change his partnership contract through a testamentary... View More

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1 Answer | Asked in Arbitration / Mediation Law, Contracts and Business Law for Illinois on
Q: Meaning of mediation/arbitration clause in business partnership contract might skip arbitration.

In a business partnership contract, there's a clause stating that "mediation and arbitration may only occur if both members are paid in full from out of pocket expenses." I would like a clearer explanation of what this means in the context of resolving disputes. Specifically, I want... View More

Tim Akpinar
Tim Akpinar
answered on Mar 18, 2025

An Illinois attorney could advise best, but your question remains open for a week. I don't blame you for seeking clarity here. The provision does not appear to be drafted in a clear and unambiguous manner. It is open to interpretation in the manner you describe. That's probably why your... View More

1 Answer | Asked in Divorce and Business Law for Illinois on
Q: Separated, buying car, worst-case scenario in divorce, Illinois?

I am currently separated from my wife, and we live in different towns. We have separate bank accounts and assets. We do have a joint debt of $5,000 for Florida, which is only in my name, and I have been solely paying it. We haven't discussed any formal division of assets, but she has... View More

Cheryl Powell
Cheryl Powell
answered on Mar 11, 2025

All property acquired during the marriage is

Marital property. Wait until you get divorced to buy the car.

1 Answer | Asked in Business Law and Real Estate Law for Illinois on
Q: Is a landlord liable for harm from tenant's intoxicated patrons?

As a landlord with a commercial tenant who serves alcohol, I am concerned about potential liability. The lease agreement does not contain specific clauses related to liability for selling alcohol, there haven't been any incidents involving harm caused by an intoxicated patron, and I am not... View More

Bryan R. Bagdady
Bryan R. Bagdady
answered on Mar 4, 2025

The short answer is yes. Look at the Illinois Dram Shop Act for more details, but a landlord of an establishment that serves alcohol may be jointly and severally liable for losses arising from the serving of alcohol.

1 Answer | Asked in Contracts and Business Law for Illinois on
Q: Can I file a lawsuit if I bought a restaurant and the previous owner started moving items like silverware out?

It wasn’t clearly stated on the contact as to what belongs to who, but the contract stated that the restaurant is under our custody on the day they started moving items out. Thanks, please get back.

Tim Akpinar
Tim Akpinar
answered on Jan 10, 2025

An Illinois attorney could advise best, but your question remains open for two weeks. The first thing an attorney would ask is, "What does the contract say about those items?" And since you mention that the items are not addressed in the contract, it sounds like it could make for a... View More

1 Answer | Asked in Business Law for Illinois on
Q: I'm a recent foreign law graduate looking to study LLM in US. What is eligibility criteria of Bar Exam in Illinois?

I'm a graduate from Uni of London and have applied in LLM Global Business and Financial Law Program in Chicago Kent College of Law. Would I be eligible to take the bar exam in Illinois after LLM?

Tim Akpinar
Tim Akpinar
answered on Dec 6, 2024

An Illinois attorney could advise best, but your question remains open for a week. But most attorneys don't deal too much with such issues once they're done with school. A starting point could be to look at the resources of your state's bar examiner offices. There are programs out... View More

1 Answer | Asked in Business Formation, Business Law, Tax Law and Immigration Law for Illinois on
Q: Can I start an online business which is related to my study major while on F1 OPT?

I am on my F1 OPT and working full time. I have completed my Masters in Packaging Engineering. Is it possible for me to open up an Etsy/Amazon/Ebay shop that specifically sells packaging for small/home business products? My ultimate goal is to make it a physical business with physical address which... View More

James L. Arrasmith
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answered on Sep 6, 2024

Starting an online business while on F1 OPT is possible, but there are some important factors to consider. OPT regulations require that any work you do be directly related to your field of study. Since you studied Packaging Engineering, you should ensure that the business you start aligns with that... View More

1 Answer | Asked in Consumer Law, Banking, Business Law and Small Claims for Illinois on
Q: I disputed a transaction involving 2 charges with my credit card co. A credit was given for 1 charge but not the other.

This dispute involved the same set of facts and documents. Since it involved 2 charges, 2 separate reviewers were assigned to my dispute. One reviewer granted a permanent credit for 1 charge. The other reviewer closed the dispute for the 2nd charge without a credit and said I was responsible for... View More

Matthew McKenna
Matthew McKenna
answered on Jun 13, 2024

I would contact a consumer protection attorney that is familiar with the Truth in Lending Act. Depending on the circumstances, you may have a case and a consumer protection attorney will likely offer you a free consultation and may not charge you anything up front if there is a case to bring.

2 Answers | Asked in Employment Law, Workers' Compensation, Business Law and Civil Rights for Illinois on
Q: I am being terminated from my job based on performance issues that have been affected by my mental health.

Do I have grounds to seek legal action regarding my termination based on mental health and substance abuse without being offered treatment or even severance?

Charles Candiano
Charles Candiano
answered on Jun 2, 2024

Worker's Compensation is a specialized area of law that only concerns job-related injuries. Your question is more related to employment law. Most people are at-will employees. You may have an employee handbook or union contract that provides additional rights. That said, any physical or... View More

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