Selling a home can be a stressful, chaotic experience. On top of making expensive changes to a home to make it more attractive, sellers are typically also busy looking for a new residence, negotiating with both the potential new homeowner and the owner of the home they wish to buy, and managing kids, careers, and more. While both the homeowner and a prospective buyer have time to request changes, negotiate the price, and make up their minds once and for all, once a purchase agreement is signed, things get real.

But what happens if a buyer suddenly pulls out of a deal, leaving the seller scrambling to clean up the mess? If you are in this situation, it is important to act quickly. Read on to learn more about what you can do, and then contact an Illinois real estate law attorney.

What Happens if a Buyer Backs Out of a Residential Real Estate Contract?

Whether a buyer can face legal consequences for backing out of a home buying contract will depend on several factors. For example, buyers can back out of real estate contracts if either the seller or buyer did not meet the contingencies in the contract, such as a satisfactory home inspection, financing terms, or required repairs.

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If you are a business owner, you probably have entered into multiple different types of contractual agreements, such as vendor or supplier contracts, employment contracts, licensing contracts, or contracts to provide goods or services to customers. These agreements are meant to protect your rights and interests by ensuring that both parties fully understand their obligations, the timeframes for completing work or delivering products, the restrictions that apply to either party and the amounts and methods of payment. If one party to a contract fails to meet their contractual obligations or otherwise violates the contract’s terms, the other party may pursue business litigation to address the alleged breach of contract.

Issues Addressed During Breach of Contract Litigation

To be valid, a contract must include an offer made by one party, the acceptance of that offer by the other party, and consideration provided by one party to the other. This consideration may include a monetary payment or any other benefits received in exchange for agreeing to the contract’s terms.

A contract will fully detail the obligations that apply to each party, and any failure to meet these obligations will be considered a breach of contract. Litigation will typically involve material breaches of contract in which a party’s failure to uphold the terms of the contract defeated the purpose of the contract. However, litigation may also address a minor breach of contract in which a party only violated some of a contract’s terms or an anticipatory breach in which one party will be expected to fail to uphold some or all of their obligations.

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Everyone deserves to get paid for the jobs they perform. While many industries provide their employees with payment for their time and effort on a biweekly basis, other industries are contract-based and wages are accrued on a much more irregular schedule. This irregularity coupled with potentially unfulfilled contracts, forces some contractors to face risk in receiving their due wages. Because of this, a safety net called mechanic’s lien has been created to ensure appropriate payment.

Mechanic’s lien has very specific deadlines and criteria that must be met to make a successful claim. It is important that you take all opportunities to protect yourself in your line of work to ensure that you can provide for yourself. A DuPage County real estate attorney can help make sure that you are properly compensated for your labor.

What Are the Requirements for a Mechanic’s Lien Claim?

A mechanics lien claim is typically filed by contractors, subcontractors, or suppliers. The claims are made due to lack of payment received after completing a project or providing materials. The work completed is usually on someone’s house, land, or other property. The lien process can vary greatly from state to state so it is important to look into your area’s practices.

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As most business owners know, the actions and inactions of an employee can greatly impact your company's image. When the action is a positive experience, it reflects well on the company. The exact opposite happens when an employee acts in a way that is considered unacceptable. Unfortunately, if that poor conduct occurs online, the employer may be limited in the actions they can take. Learn more about the investigation of an employee's social media account, including how to avoid violations under the Stored Communications Act.

Unsavory Social Media Behavior

If your company has an image to protect - be it honesty, integrity, compassion, or top-notch customer service - then you may already have a social media policy in place. Unfortunately, some employees may still break the rules, even with the rules in place. If that happens, you may need evidence from an investigation before you can bring action against the offending employee (i.e. termination, lawsuit, etc.). Without it, you may be at risk for litigation. Yet conducting it can also place your company at risk, especially if you violate the SCA.

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Long gone are the days of doing everything on paper. Pictures and important documents are stored in the cloud. People often connect more with the people on their social media account than their neighbors. Even business contracts are sent and signed digitally. Are digital contracts an effective or legal option for businesses though? Can they stand up in the face of business litigation, or are digital contracts a lawsuit waiting to happen?

Uniform Electronic Transaction Act

In 1999, a total of 47 states adopted the Uniform Electronic Act, which indicates electronic signatures may be considered just as valid and legally binding as a manual one. The state of Illinois did not accept this law, but many digital signatures are considered valid. However, it is important to note that electronic signatures on negotiable instruments are not considered valid in the state of Illinois. Further, there may be additional restrictions placed on the validity of a specific contract or signature.

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