Illinois Compiled Statutes
815 ILCS 307/10-35 (2026)
Contracts required to be in writing; retention of copy by client
✓ current as of May 2026
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(815 ILCS 307/10-35)
Sec. 10-35.
Contracts required to be in writing;
retention of copy by client. To be enforceable, every
contract for the services of a business broker shall be in
writing and signed by all contracting parties. The client
shall have the right to retain a copy of the signed contract
for the services of a business broker. The client's copy of the contract
shall be provided to the client when the contract is signed, if that is
reasonably feasible and the client so requests. Otherwise, the contract shall
be mailed or otherwise sent to the client within one week of execution. No
account number, as referred to in Section 10-75 of this Act, is required on the
client's copy of the contract.
(Source: P.A. 89-209, eff. 1-1-96; 90-70, eff. 7-8-97.)
Notes of Decisions
Cited in 1
case, 2013–2013 · leading case: Sheth v. SAB Tool Supply Co., 2013 IL App (1st) 110156 (Ill. App. Ct. 2013).
Sheth v. SAB Tool Supply Co., 2013 IL App (1st) 110156 (Ill. App. Ct. 2013). “815 ILCS 307/10-35 (West 2010). Business brokers must disclose certain information to their clients in their contracts for services and maintain certain records.”
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