Contracts — arbitration, timeliness in pursuing action

Posted July 7, 2015 3:13 PM

Where a corporation drafts and signs a contract requiring a timely demand for arbitration as a condition precedent for filing a lawsuit, if that corporation failed to make a timely demand for arbitration, that corporation has forfeited its claims.The Illinois Appellate Court, 1st District, affirmed a decision by Cook County Circuit Judge Marcia Maras.G.A. Crandall & Co. signed an agency contract with Trustgard Insurance Co. permitting Crandall to sell Trustgard automobile insurance. Following the terms of the contract, …

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