[DOWNLOAD] "Lawndale Steel Co. v. Appel" by Illinois Appellate Court — Second District Judgment Affirmed " Book PDF Kindle ePub Free
eBook details
- Title: Lawndale Steel Co. v. Appel
- Author : Illinois Appellate Court — Second District Judgment Affirmed
- Release Date : January 14, 1981
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 65 KB
Description
This is an action by a creditor to collect on a contract of guaranty. After a bench trial, the Circuit Court of Lake County directed a verdict in favor of the defendant-guarantor. From this verdict, plaintiff appeals. Lawndale Steel Company is engaged in the business of selling steel and steel products. Joe Appel is a steel broker. During the months of June and July 1973 Appel approached Lawndale on behalf of himself and Modular Technology Corporation to structure a business deal between the parties. Appel sought a commitment from Lawndale to supply to Modular all the steel it would need for a construction project in Lubbock, Texas. In return, Appel would receive a commission on the sale of the steel. Lawndale had never dealt with Modular before, and investigation showed that it was not a particularly strong company from a financial standpoint. In its negotiations with Modular, Lawndale therefore endeavored to secure guarantees that payment would be made.