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Contractual lien for legal services
Contractual lien for legal services - Trends
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The Illinois Mechanics Lien Act (the "Act") offers important protection to parties that provide services, labor or materials for construction projects by granting them a right to record a mechanics lien against real property as a means to secure their right to payment. As such, the Act confers upon such parties an extraordinary right to claim a security interest in another's property and to assert a claim against the owner of that property when such parties may not otherwise have a legal basis for doing so. Because these rights are created by statute alone, however, the Act is strictly construed, and parties must ...
I read a post yesterday that conjured up the old arbitration v. lien enforcement battle. This is a battle that many a construction attorney has had to battle. What do you do when you have an obligation to arbitrate your dispute, but you have to enforce a lien as well? Here is the dilemma in a quick snap shot: As a contractor or supplier, you have a claim for payment from your customer. Typically this dilemma springs free when the contractor or supplier is lower down the contractor chain. Their contractual dispute is typically with a subcontractor or general contractor, but they have ... Read More
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