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LAKE RIVER CORP. v. CARBORUNDUM CO.

Nos. 84-1623, 84-1688.

769 F.2d 1284 (1985)

LAKE RIVER CORPORATION, Plaintiff-Appellee-Cross-Appellant, v. CARBORUNDUM COMPANY, Defendant-Appellant-Cross-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided August 9, 1985.

Attorney(s) appearing for the Case

Glen H. Kanwit, Hopkins & Sutter, Chicago, Ill., for defendant-appellant-cross-appellee.

Michael R. Turoff, Arnstein, Gluck, Lehr, Barron & Milligan, Chicago, Ill., for plaintiff-appellee-cross-appellant.

Before ESCHBACH and POSNER, Circuit Judges, and GIBSON, Senior Circuit Judge.

POSNER, Circuit Judge.

This diversity suit between Lake River Corporation and Carborundum Company requires us to consider questions of Illinois commercial law, and in particular to explore the fuzzy line between penalty clauses and liquidated-damages clauses.

Carborundum manufactures "Ferro Carbo," an abrasive powder used in making steel. To serve its midwestern customers better, Carborundum made a contract with Lake River by which the latter agreed to provide...

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