Illinois Complaint for Specific Performance to Enforce Settlement and for Punitive Damages

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US-03187BG
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Description

A settlement agreement is an agreement to terminate, by means of mutual concessions, a claim which is disputed in good faith. It is an amicable method of settling or resolving bona fide differences or uncertainties and is designed to prevent or put an end to litigation. Public policy favors settlement of litigation. It is well-settled public policy that settlement agreements are highly favored and will be enforced whenever possible.


Courts consider a settlement agreement as a contract, and construction and enforcement of settlement agreements are governed by principles of contract law. Accordingly, a settlement agreement is enforceable if the elements of a contract are present: " An agreement;
" Between competent parties;
" Based upon the genuine assent of the parties;
" Supported by consideration;
" Made for a lawful objective; and
" In the form required by law.

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  • Preview Complaint for Specific Performance to Enforce Settlement and for Punitive Damages
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FAQ

How are Exemplary Damages Calculated? Exemplary damages are calculated based on the compensatory damages which are awarded to the plaintiff. The majority of states have limits on how much a plaintiff can receive in exemplary damages.

Exemplary damages serve to provide the claimant with recovery above and beyond compensatory damages in order to punish the wrongdoer for egregious conduct and to deter the wrongdoer and others from similar conduct in the future (4).

Examples of acts warranting exemplary damages: publishing that someone had committed murders when the publisher knew it was not true but hated the person; an ex-husband trashes his former wife's auto and threatens further property damage; a stockbroker buys and sells a widow's stocks to generate commissions resulting ...

2-204. Service on private corporations. A private corporation may be served (1) by leaving a copy of the process with its registered agent or any officer or agent of the corporation found anywhere in the State; or (2) in any other manner now or hereafter permitted by law.

Who Is Entitled to Punitive Damages in Illinois? Under Illinois law, juries may impose punitive damages if the defendant acted intentionally, fraudulently, or willfully. Gross negligence also applies.

An injured party may be entitled to punitive or exemplary damages where the conduct bringing about the harm is willful and wanton or outrageous or where the defendant acted with actual malice, fraud, deliberate violence or gross negligence. Loitz v. Remington Arms Co., 138 Ill.

Compensatory damages, frequently referred to as "actual damages," includes all those losses most commonly associated with an injury. These are the costs directly associated with the accident, including the physical, mental, and emotional damage inflicted on the plaintiff.

Actions to recover damage to real estate which may be overflowed or otherwise damaged by reason of any act of the corporation may be brought in the county where the real estate or some part of it is situated, or in the county where the corporation is located, at the option of the party claiming to be injured.

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Illinois Complaint for Specific Performance to Enforce Settlement and for Punitive Damages