by Harry M. Wilson, IV
The following is a brief summary of some of the legislation included in Senate Bill 1196 which was signed into law on June 1, 2010 by Governor Charlie Crist. S.B. 1196 amends portions of Chapter 718 (the Condominium Act) and the new provisions portend changes for condominium unit owners and associations alike. The changes were made effective July 1, 2010 and include the following:
A contract of guaranty is the promise to answer for the payment of some debt or the performance of some obligation by another, such that if the original debtor is unable to pay the debt or satisfy the contractual obligation, for whatever reason, the guarantor is himself liable on the default of the primary obligor. The guarantor’s knowledge of the execution or delivery of a guaranty is irrelevant, where the contract of guaranty speaks for itself and where the guarantor has not disclaimed knowledge of the guaranty. See Chris Craft Industries, Inc. v. Van Valkenberg, 267 So.2d 642 (Fla. 1972).
In a typical case, a President, CEO, or other officer signs a personal guaranty for the debts of his corporation and becomes personally liable for the debt upon the corporation’s default. Florida case law demonstrates that a simple, but well-drafted personal guaranty, which specifically enumerates the personal nature of the debt assurance, is adequate to form a legal and binding personal guaranty.
Slander of title occurs when one entity or person falsely alleges an ownership interest in the property of another, or when one entity or person disparages the property interest of another. The elements of slander of title claims are:
Specially trained employees are a valuable commodity in the business world, so keeping these skilled employees is of the utmost importance to employers. Many people have a skewed perspective of non-compete clauses as being manifestly unjust to the employee against whom it is being enforced. To address this sentiment, the Florida legislature has crafted, Fla. Stat. §542.335 in such a way that it ensures fairness to both the employee and the employer.