Contracts — assessing damages over period of time

Posted December 3, 2013 2:12 PM

Where a defendant has breached a contract, damages for lost profits depend on the plaintiff’s showing evidence of the loss. The Illinois Appellate Court, 1st District, 6th Division, affirmed a decision by Cook County Associate Judge Brigid Mary McGrath. Banco Popular North America and Santorini Cab Corp. entered into a contract in May 2006 involving the sale of a taxicab medallion. Santorini bought it for $48,000. In July 2006, Santorini bought another for $48,000. Both contracts involved “substantially …

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