Plaintiff filed suit to quiet title and for slander of title as to an industrial park that Plaintiff had developed. Defendant counterclaimed for money he was allegedly owed pursuant to a novation and joined as 3rd party Defendants certain entities that had purchased a portion of the property from Plaintiff or that had otherwise acquired interest in property after Defendant recorded the novation. After bench trial, court rule in Defendant's favor on all claims. Court's ruling that novation was valid was well-supported by the evidence; it substituted Plaintiff as debtor, and also changed some terms of payment, and was agreed to by all 3 parties involved. Consideration for novation was Defendant's extinguishment of the old debt in exchange for Plaintiff's promise to pay the new debt. (HOLDRIDGE and LYTTON, concurring.)
Illinois Appellate Court
Civil Court
Contracts