Monthly Archives: November 2013

Obtaining Relief from a Default Final Judgment in Bankruptcy

What do you do when a client comes to you stating that a default final judgment was entered against them and they want out of it? The answer is you move to set it aside for cause, which is a viable plan of action under state law as well as federal bankruptcy law. Entry of a final judgment after default is not necessarily the end of the road for your client. In certain circumstances, it may just be the beginning. Read Full Post

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Florida’s Revised Limited Liability Company Act: Part II – Filing Statements of Authority

This blog post is the second in a series of posts focusing on Florida’s Revised Limited Liability Company Act, which was passed into law in June 2013 and is codified in Chapter 605, Florida Statutes. The Revised Act takes effect January 1, 2014 for all LLCs formed after that date. For LLCs formed prior to 2014, the Revised Act becomes mandatory on January 1, 2015. Although much of Florida law governing LLCs remains the same under the Revised Act, there are a few significant changes that managers and members of LLCs should be aware of and that may require revisions to existing operating agreements. This post discusses the filing of the statement of authority, which the Revised Act allows pursuant to Section 605.0302, Florida Statutes. Read Full Post

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Florida’s Revised Limited Liability Company Act: Part I – The Two Acceptable LLC Management Structures

This blog post is the first in a series of posts focusing on Florida’s Revised Limited Liability Company Act, which was passed into law in June 2013 and is codified in Chapter 605, Florida Statutes. The Revised Act takes effect January 1, 2014 for all LLCs formed after that date. For LLCs formed prior to 2014, the Revised Act becomes mandatory on January 1, 2015. Although much of Florida law governing LLCs remains the same under the Revised Act, there are a few significant changes that managers and members of LLCs should be aware of and that may require revisions to existing operating agreements. This post discusses the Revised Act’s elimination of the “managing member” concept for LLC management structures. Read Full Post

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Laws Governing Board of Administration Meetings For Condominium Associations Under the Florida Statutes

Florida’s condominium associations have been delegated authority by the Florida legislature to create and enforce their own bylaws so long as they do not conflict with the Florida Statutes. There are some provisions, however, that associations have no say in and those provisions must be included in their bylaws. These are found in Section 718.112, Florida Statutes. This blog post focuses on a few of those required provisions concerning board of administration meetings. Read Full Post

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Liability for forged personal guaranties in Florida

Previously we have explored: a) successful defenses to enforcement of personal guaranties, b) unsuccessful defenses to enforcement of personal guaranties, c) language requirements for personal guaranties, and lastly we will explore the obligation of an alleged guarantor when a personal guaranty is forged. Read Full Post

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What language must be included to have a valid personal guaranty in Florida

Most of the cases alleging an insufficiently drafted personal guaranty concern corporate officers guarantying corporate debt, and the officer’s subsequent defense that he was signing in a strictly representative capacity. In deciding these cases, courts have also outlined the language requirements for a valid guaranty. This post is the third post in a series of posts analyzing the legal requirements of personal guaranty obligations in Florida. Previous posts on defenses to guaranty enforcement can be found here and here. Read Full Post

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Unsuccessful defenses to enforcement of a personal guaranty in Florida: Part Two of a Two Part Series

This post is the second part of a two part series examining defenses to enforcement of personal guaranties in Florida. Part one identified successful defense to enforcement of a guaranty and can be found here. Part two seeks to analyze defenses that have been unsuccessfully asserted in defense of personal guaranty enforcement. Read Full Post

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Successful defenses to enforcement of a personal guaranty in Florida: Part One of a Two Part Series

A personal guaranty is a contract signed by an individual wherein the guarantor affirms his or her personal obligation on a loan or some other debt obligation, such that if the original debtor becomes unable to pay the debt, the guarantor is personally liable for that debt and is legally responsible for its repayment. In a typical case, a President, CEO, or other officer signs a personal guaranty for the debts of his or her business and becomes personally liable for the debt if the business doesn’t pay it off. Florida case law demonstrates that a simple, but well-drafted personal guaranty that specifically enumerates the personal nature of the debt assurance is adequate to form a legal, binding personal guaranty. This Blog post seeks to identify successful defenses utilized in Florida case law to consider when drafting or seeking to enforce personal guarantees. Read Full Post

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The Obligations of Unit Owners and Other Occupants of Properties within Condo Associations, and the Associations’ Statutory Remedies

Many unit owners of properties within Florida’s condominium associations fail to realize that when they gain title to that property they are subjecting themselves not only to the Florida Statutes governing such associations but also to the association’s own rules and regulations. Moreover, many tenants, lessees and other occupants of association properties also fail to realize they are subject to such laws, rules and regulations by contracting to reside on the premises. Section 718.303, Florida Statutes, makes clear the obligations of unit owners and their tenants and provides for the remedies available to associations when such occupants break the rules. This blog post will provide a brief overview of Florida law concerning this issue. Read Full Post

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What’s in a Name? Or More Specifically…What’s in a Signature?

It is common practice amongst practitioners in a contract dispute case to confirm the opposing party executed the essential documents to the transaction. Execution equals assent to the contract. But is the standard signature we think of, a cursive representation of our legal name, even necessary to create a contractual obligation? In reality, it is not. And lucky for us too because future generations may not even understand today’s concept of a signature. Read Full Post

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