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 […]
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.
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.
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.
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.
The insurance requirements for condo associations and their unit owners have been codified by the Florida legislature within Section 718.111(11), Florida Statutes. What is important for interested parties to know is that the current Florida Statutes are controlling on the issue of property insurance requirements, regardless of what is contained within a condominium’s declaration or when it was recorded. In fact, the statute’s first sentence explains that, “this subsection applies to every residential condominium in the state, regardless of the date of its declaration of condominium.” Fla. Stat. § 718.111(11) (2013). Section 718.111(11), Florida Statutes, was amended in 2013, and this blog post is to provide interested parties with a high-level overview of the current insurance requirements of Florida’s condominiums and their unit owners.
Jacksonville, Fla. – October 31, 2013 – The law firm of Jimerson & Cobb, P.A., is proud to congratulate its partner, James O. “Joby” Birr, III, on his recent induction into the University of North Florida Athletics Hall of Fame. As a member of the Hall of Fame Class of […]
Featured in the October 2013 Issue Partner’s Perspective J&C Partner Inducted into UNF Hall of Fame J&C Celebrates Second Annual Mini-Golf Tournament New Law Blogs Curiosities, Ruminations and Various Eccentricities of Firm Biz Click to read.
Jimerson Birr, P.A. Managing Partner Charles Jimerson comments on fake death case in the Jacksonville Business Journal.
Section 718.113(5), Florida Statutes, governs the installation of various materials for hurricane protection that Florida’s condominium associations must abide by. Section 718.115(1)(e), Florida Statutes, governs the allocation of expenses for the hurricane protection installation. Both of these sections were amended by the Florida legislature in 2013. This blog is to provide a brief overview of the main provisions of these statutes in light of those recent changes.