La Salle National Bank v. Vega
Illinois Appellate Court , Second District
520 N.E.2d 1129 (1988)
La Salle National Bank (La Salle) (plaintiff) entered into negotiations with Vega (defendant) to purchase real estate. La Salle and Vega agreed to a rider stipulating that (1) La Salle’s purchasing agent would execute the contract and present it to Vega; (2) Vega would execute the contract and present it to La Salle’s trustees; and (3) once the trustees executed the contract, the contract would be enforceable. In accordance with the rider’s requirements, La Salle’s purchasing agent executed the contract, and Vega completed his execution. However, La Salle’s trustees never executed the contract. La Salle brought suit for breach of contract against Vega, seeking specific performance of the contract for the sale of real estate. Borg intervened and filed suit against both La Salle and Vega, seeking specific performance of a different contract for sale of the same land. The trial court granted partial summary judgment for Borg on the ground that the contract between La Salle and Vega was not “signed in accordance with its terms and provisions” because La Salle’s trustees never executed the contract. The parties appealed.
Rule of Law
Holding and Reasoning (Lindberg, J.)