Legal Question in Business Law in Illinois

What are you concerned about? Stopping payment without further inquiry could result in a problem. Is there no person to contact? Just because a business is "out of business" doesn't mean the business owner isn't able to deposit checks in order to wind up the economic affairs of the business that was closed. So before just stopping payment on what was a legitimate obligation, see if you can reach the closed business's owner and if you can't, then it would be helpful to have some written confirmation of that before stopping payment. You might wind up having to pay it all over again.

As a Franchise Attorney I only add the following to the other attorney answer. Banks normally will not cash a check after 6 months from the date of issuance. Check with your bank about this and perhaps you can just wait it out. Consult with a good business or franchise attorney in your area for specific advice.

Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.

Franchise Foundations, a Professional Corporation