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LYON FINANCIAL SERVICES v. ILLINOIS PAPER & COPIER

No. 12-2210.

732 F.3d 755 (2013)

LYON FINANCIAL SERVICES, INC., d/b/a U.S. Bancorp Business Equipment Finance Group, Plaintiff-Appellant, v. ILLINOIS PAPER AND COPIER COMPANY, Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided October 9, 2013.

Attorney(s) appearing for the Case

Debra Devassy Babu, Attorney, Askounis & Darcy, P.C., Chicago, IL, for Plaintiff-Appellant.

Andrew T. Staes, Attorney, Staes & Scallan, Chicago, IL, for Defendant-Appelle

Before MANION and SYKES, Circuit Judges, and DARROW, District Judge.

SYKES, Circuit Judge.

This appeal presents a question with important implications for commercial transactions: When a representation of law is made in a contract, when (if ever) is it actionable? The question arises in the context of a commercial financing arrangement between Illinois Paper and Copier Company, a seller of office equipment, and Lyon Financial Services, Inc., a finance firm based in Minnesota. Under a master...

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