Part two of Glen Brown’s message to Representative Elaine Nekritz and the 20 other sponsors of HB6258. A contract is a contact.
By Glen Brown
Illinois Pension Reform Is Without Legal and Moral Justification
By legal definition, a contract is “an agreement creating obligations enforceable by law… The law provides remedies if a promise is breached or recognizes the performance of a promise as a duty. Contracts arise when a duty does or may come into existence because of a promise made by one of the parties. To be legally binding as a contract, a promise must be exchanged for adequate consideration. Adequate consideration is a benefit or detriment that a party receives which reasonably and fairly induces them to make the promise/contract” (Legal Information Institute at Cornell University Law School). Accordingly, the State of Illinois has a long list of antedated court rulings upholding the rights and benefits (contracts) of its public employees.
To possess a right to a promised deferred compensation, such as a pension, is to assert a
Logan Square needs a military school? Says who?
Logan Square on the northwest side of Chicago has been our home since 1975.
We raised our kids here.
We bought a home here.
We have known many of our neighbors for decades, watching their kids grow up, leave home and have kids of their own.