By: Charles B. Jimerson, Esq.
The newest development concerning independent tort claims and causes of action arising from a breach of contract manifests as a result of Tiara Condo. Ass’n., Inc. v. Marsh & McLennan Co. and is exemplified through the holding of Marian Farms, Inc. v. SunTrust Banks, Inc. Marian Farms, Inc. v. SunTrust Banks, Inc., No. 5D12-886, 2014 Fla. App. LEXIS 57, at *2 (Fla. 5th DCA Jan. 3, 2014); Tiara Condo. Ass’n., Inc., v. Marsh & McLennan Co., 110 So.3d 399, 407 (Fla. 2013). The decision of Marian Farms represents the newly established precedent from Tiara Condo. Ass’n. regarding the implementation of Florida’s economic loss rule and imports its holding to Florida banking law. The decision of Tiara Condo. Ass’n. limits the application of the economic loss rule by finding that the rule now only applies in the products liability context. Id. at 407. This deviation from precedent, which occurred after the order dismissing the plaintiff’s complaint in Marian Farms, consequently changed the outcome in Marian Farms such that the order was reversed and the case remanded. No. 5D12-886, 2014 Fla. App. LEXIS 57, at *3. The net result is that independent torts separate and apart from the depositor agreement will survive dismissal and present issues for a jury to decide.