Franklin Point, Inc. v. Harris Trust & Savings Bank

277 Ill. App. 3d 491, 214 Ill. Dec. 13, 660 N.E.2d 204 (1995)

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Franklin Point, Inc. v. Harris Trust & Savings Bank

Illinois Appellate Court
277 Ill. App. 3d 491, 214 Ill. Dec. 13, 660 N.E.2d 204 (1995)

  • Written by Tammy Boggs, JD

Facts

Franklin Point, Inc. (FPI) (plaintiff) and Harris Trust & Savings Bank (the bank) (defendant) entered a written contract under which the bank would construct and occupy an office building on a parcel of real property. The bank’s building would be an anchor in a commercial real estate development to be known as Franklin Point. The bank paid FPI about $11.5 million under the contract but failed to commence construction of a building as agreed. FPI sued the bank for specific performance of the contract. The parties made various arguments supporting or opposing the propriety of specific performance as a remedy. The trial court dismissed FPI’s claim on the ground that specific performance of construction contracts was prohibited as a matter of law. The court also denied FPI’s request for leave to amend the complaint. FPI appealed.

Rule of Law

Issue

Holding and Reasoning (McNulty, J.)

Dissent (Cousins, J.)

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