By H. Clay Parker, Esq. | Published November 30, 2021 | Posted in Commercial Real Estate | Tagged Tags: commercial real estate, Let the Buyer Beware | Comments Off on Are Sellers Liable for Misrepresenting the Condition of Commercial Property?
Are Sellers Liable for Misrepresenting the Condition of Commercial Property?
The legal doctrine of caveat emptor — “let the buyer beware” — means that buyers are responsible for inspecting the quality and condition of property prior to purchase. If they fail to do so, they usually cannot hold the seller liable for any defects, even those that the seller did not disclose. Although Florida law Read More
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Do’s and Don’ts of Nondisclosure Agreements in Employee Contracts
Businesses have a legitimate need to protect their trade secrets and intellectual property. An effective way to do that is to require employees and independent contractors to sign a nondisclosure agreement (NDA), forbidding the sharing of confidential information with competitors. While NDAs are generally legal in Florida, courts tend to scrutinize them carefully and will Read More
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Protecting Your Business’s Reputation During Litigation
Protecting Your Business’s Reputation During Litigation In today’s world of 24-hour global news and non-stop social media, a business embroiled in a lawsuit can suffer reputational damage that may be as costly as the litigation itself. Information divulged in court papers, at trial or in out-of-court statements can be repeated, exaggerated and misinterpreted, injuring the Read More
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Common Disputes Between Business Owners That Can Lead to Litigation
As with all human endeavors, disputes are likely to arise among business owners, partners or shareholders over how an enterprise is being run or should be run. For instance, issues concerning the compensation of owners and officers can occur as a company grows and increases its revenues and workforce. Anticipating areas where disputes can erupt Read More
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Enforceability of Contractual Liquidated Damages Clauses
Liquidated damages are dollar amounts that parties to a contract agree will be paid in the event of a breach. Setting a fixed amount can be preferable to proving actual damages that might be difficult to ascertain when a breach occurs. Florida courts generally recognize the validity of liquidated damages clauses. However, in order to Read More
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How Attorneys’ Fee Provisions in Contracts Can Affect Litigation
It’s customary in the United States that each party engaged in litigation pays for their own lawyer. However, the “’American rule,” as it is called, has exceptions. One of them is where a contract provides for legal fees to be recoverable by one party from another in designated circumstances, such as when one party prevails Read More
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Enforcing Noncompete Agreements in the Florida Courts
Florida generally outlaws contracts in restraint of trade or commerce. An exception is that a company can enter an agreement with an employee, contractor, distributor or vendor that limits them from engaging in conflicting business activities. Sellers of businesses can also be restricted from competing. However, there are several requirements that must be met for Read More
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Defending Against a Mortgage Foreclosure Lawsuit
If you are behind in your mortgage payments and are receiving threatening phone calls and letters from the lender, you are not alone. With Florida’s volatile real estate market, coupled with the COVID-19 pandemic, mortgage foreclosures by lenders have risen substantially. Florida is a judicial foreclosure state. That means lenders must file a summons and Read More
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Enforcing Liquidated Damages Clauses in Construction Contracts
Liquidated damages are amounts of money that parties to a contract agree are to be paid by one party to the other in the event of a breach of contractual terms. Liquidated damages clauses are common in Florida construction contracts, since they guard against the unpredictable losses that property owners, developers and contractors might suffer Read More
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How Will Coronavirus Affect Contractual Relationships and Obligations?
The coronavirus pandemic has disrupted practically every aspect of American life. Whether closed by government order or by concerns about public safety, millions of businesses around the country have seen their operations come to a halt. Despite the overwhelming effect of COVID-19, it is not a certainty that an “Act of God” clause in a Read More
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