Read the article in it's entirety here: http://www.chicagolawbulletin.com/Articles/2016/03/17/Paul-Porvaznik-forum-3-17-16.aspx

The First District recently considered whether a contract that could only be ended on both parties’ written consent was too indefinite and “perpetual” to be enforceable. In Rico Industries v. TLC Group, Inc., 2014 IL App (1st) 131522, the parties entered into a sales contract where plaintiff would sell products to Wal-Mart through defendant – the retailing monolith’s exclusive distributor. The agreement could only be terminated by the parties’ mutual agreement. About five yea

In Southern Wine and Spirits of Illinois, Inc. v. Steiner, 2014 IL App (1st) 123435, the First District outlined and applied the rules governing the interpretation and enforcement of written guaranty agreements in Illinois. The plaintiff wine distributor purchased the assets of another distributor that had previously entered into a contract with a liquor store company; a contract personally guaranteed by the individual liquor store owners. The year after the asset purchase, t

Chicago Daily Law Bulletin. Read the article in its entirety here: http://www.chicagolawbulletin.com/Articles/2016/02/24/Paul-Porvaznik-forum-2-24-16.aspx