Laport v. MB Financial Bank, N.A

Illinois Appellate Court
Civil Court
Citation
Case Number: 
2011 IL App (1st) 113384
Decision Date: 
December 28, 2012
District: 
1st Dist.
Division/County: 
Cook Co., 2d Div.
Justice: 
SIMON
Holding: 
Affirmed.
Plaintiff co-trustee directed Defendant bank to sell a definite and easily identifiable class of properties when she instructed it to sell all of Trust's stock market investments, and Plaintiff directed Defendant bank to sell specific property in doing so. Thus, instruction was related to directed investment assets and was not made in compliance with terms of parties' written investment management agreement, which required that all such instruction be made in writing. Thus, court properly dismissed Plaintiff's complaint for breach of fiduciary duty and breach of contract. (HARRIS and QUINN, concurring.)