Likens v. Inland Real Estate Corp.

This is an appeal from that portion of the summary judgment order of the circuit court of Cook County holding that a provision in a lease that allowed defendant, Inland Real Estate Corporation, to retain money deposited by plaintiff, Charles Likens, is unenforceable as a penalty. The sole issue presented for review is whether an agreement between the parties that provided defendant the right to retain plaintiff’s deposit in certain circumstances is enforceable as liquidated damages or is unenforceable because it is a penalty.

We reverse.

On August 11, 1984, plaintiff gave defendant $359 along…