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MACHINERY TRANSPORT OF ILL. v. MORTON COM. BANK

No. 3-97-0078.

687 N.E.2d 533 (1997)

293 Ill. App.3d 207

227 Ill.Dec. 283

MACHINERY TRANSPORTS OF ILLINOIS, an Illinois corporation; Dennis LaHood, Anthony T. LaHood, Jr., Martha LaHood, Plaintiffs-Appellants, v. MORTON COMMUNITY BANK and Gordon D. Honegger, individually, Defendants-Appellees.

Appellate Court of Illinois, Third District.

November 14, 1997.

Attorney(s) appearing for the Case

Stephen A. Kouri (argued), S. Linn Perkins, Vonachen, Lawless, Trager & Slevin, Peoria, for Dennis LaHood, Martha LaHood, Anthony T. LaHood, Jr., Machinery Transports of Illinois.

David Benckendorf (argued), Benckendorf & Benckendorf, P.A., Peoria, for Gordon D. Honegger, Morton Community Bank.

Justice BRESLIN delivered the opinion of the court:

At issue is whether a complaint based on several oral credit agreements is barred by the Illinois Credit Agreement Act (Act), 815 ILCS 160/0.01 et seq. (West 1996), which prohibits recovery unless a credit agreement is in writing. We hold that the trial court properly found that the Act precluded the debtors' action even though the complaint alleged that the debtors fully performed their obligations. Accordingly...

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