Legal Opinion
JPMorgan Chase Bank, N.A. v. Earth Foods, Inc.
Illinois Supreme Court
Decided October 21, 2010No. 107682PublishedCited by 82 opinions
1Opinion of the CourtJustice Kilbride
Chief Justice Fitzgerald and Justices Freeman, Thomas, Garman, Karmeier, and Burke concurred in the judgment and opinion.
OPINION
In this appeal, we address whether section 1 of the Sureties Act (740 ILCS 155/1 (West 2000)) is applicable to guarantors. JPMorgan Chase Bank (Bank) filed suit against Earth Foods, Inc., for breach of contract, and against Michael Jarvis, Theodore L. Petrovich, and Leonard S. DeFranco as guarantors of a defaulted loan. DeFranco sought protection under section 1 of the Sureties Act.
The circuit court of Kane County granted summary judgment in favor of the Bank on the…
2Cases cited33 opinions
- Case v. Los Angeles Lumber Products Co.Supreme Court of the United States · 1939
- Gallagher v. LenartIllinois Supreme Court · 2007
- DeLuna v. BurciagaIllinois Supreme Court · 2006
- Williams v. ManchesterIllinois Supreme Court · 2008
- In Re Estate of RennickIllinois Supreme Court · 1998
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