On October 3, 2015, new regulations promulgated by the Consumer Financial Protection Bureau (CFPB), a governmental agency created under the Dodd–Frank Wall Street Reform and Consumer Protection Act will go into effect that will change the landscape of the residential mortgage world. Among other things: Gone will be the familiar “HUD-1” (a/k/a RESPA) and “good […]
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While summer may be winding down, construction season is still in full swing. This month we turn our focus to construction law, specifically mechanic’s liens, starting with part one of a three-part series on this interesting and complex area of construction law. Illinois Appellate Court Ruling on Section 30 of MLA Last month, our own Dave Kabat won an appeal […]
Click Here for the Original Newsletter By: Jim Dash The problem: An upstream party (i.e., the owner, upstream (sub)contractor), for reasons outside its control, fails to pay for construction work. Here is the dialogue: Upstream Party: Sorry, but we haven’t been paid yet on this project. We’ll pay you if and when we get paid. Downstream […]
Courts addressing the adequacy of consideration for restrictive covenants in the employment setting have held that where the employment is at-will, the promise of continued employment is illusory. Generally, in Illinois, where employment alone is the consideration for the restrictive covenant, the employment must be for a duration of two years or more to constitute […]
The Compassionate Use of Medical Cannabis Pilot Program Act (“Compassionate Use Act”) was signed by Governor Quinn on August 1, 2013, and went into effect on January 1, 2014. In March 2015, the State of Illinois issued preliminary licenses to eighteen marijuana cultivation centers, allowing those centers to construct facilities, buy equipment and hire employees. […]
In an atmosphere of rising employee costs, companies, both large and small, have looked to independent contractors to cut employee-related expenses. Hiring an independent contractor can reduce costs in expenses and payroll, as well as benefits such as employer provided health benefits. An independent contractor relationship can mean that a company does not need to […]
What does President Obama’s direction to the Department of Labor to change the FLSA’s “salary-level test” for exempt employees mean for employers? If enacted as proposed, it means that if (after the amendment goes into effect) an employee is not being paid at least $50,440 annually, the employee will lose the exempt status even though […]