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In Inspiration Yacht Charters, Inc. v. Inspiration Yacht Charters II, Inc., 11-14931, 2012 WL 3731704 (11th Cir. 2012), Inspiration Yacht Charters I, Inc. (“seller”) agreed to sell a yacht to KK Aggregates, Inc. for $7,000,000 with a $690,000 security deposit to be held in escrow by KK Aggregates’ broker.  KK Aggregates assigned its interest in […]

In Simkovitz v. Jetran International, Ltd., 12-10228, 2012 WL 5458166 (11th Cir. 2012), an employee of an aircraft buyer and seller sued the employer for breach of agreement to pay sales commission.  Defendant, Jetran International, Ltd. (“Jetran”) bought and sold aircraft.  Plaintiff, Leonard Simkovitz (“Simkovitz”), was a senior vice president in Jetran’s aircraft sale and […]

In Ibis Lakes Homeowners Ass'n, Inc. v. Ibis Isle Homeowners Ass'n, Inc., 4D12-1273 (Fla. 4th DCA, Dec. 12, 2012), Ibis Lakes Homeowners Association, Inc. (“Plaintiff”) sought review of a non-final order of the trial court granting Ibis Isle Homeowners Association, Inc.’s (“Defendant”) motion to compel arbitration. The Plaintiff and the Defendant, adjoining homeowner's associations located […]

A class action is a lawsuit where one or members of a class may sue or be sued as representative parties on behalf of all members. The class action must have the characteristics of commonality, adequacy, numerosity, and typicality. Commonality refers to there being one or more claims common to the entire class. Adequacy refers […]

On January 10, 2013, the Consumer Financial Protection Bureau released the Qualified Mortgage (“QM”) rule. The QM rule provides standards a lender must use to minimize risky loans and help a borrower avoid an eventual default. Implementing the QM rule will provide banks some protection from consumer lawsuits by helping lenders prove they adequately evaluated […]

The Florida Statute of Frauds is codified at Florida Statute section 725.01 which provides, in pertinent part: No action shall be brought … whereby to charge the defendant upon any special promise to answer for the debt, default or miscarriage of another person … or upon any agreement that is not to be performed within […]

Florida Statute section 718.503(1)(a)1. states, in relevant part, that a contract for the sale of a residential unit must: Contain the following legend in conspicuous type: … THIS AGREEMENT IS ALSO VOIDABLE BY BUYER BY DELIVERING WRITTEN NOTICE OF THE BUYER'S INTENTION TO CANCEL WITHIN 15 DAYS AFTER THE DATE OF RECEIPT FROM THE DEVELOPER […]

In Universal Music Venezuela v. Montaner, No. 3D12-1580 (Dec. 26, 2012), the Third District Court of Appeals reversed an order denying a motion to dismiss for lack of personal jurisdiction. The action arose out of a series of contracts, executed in Venezuela, which provided that they were going to be governed by Venezuelan law, and […]

An experienced real estate lawyer will be able to counsel brokers on how to avoid liability and anticipate potential problems in order to avoid expensive disputes. Commission disputes may arise between a broker and sales associate. The Florida Real Estate Commission (“FREC”) does not resolve these matters. A written employment agreement or independent contractor agreement […]

A question often arises regarding the nature and scope of the duty owed by a majority stockholder or stockholders to a minority stockholder in a closely held corporation.  In Biltmore Motor Corp. v. Roque, 291 So. 2d 114 (Fla. 3d DCA1974), the Third District Court of Appeal addressed this issue in the context of manipulation […]