In reviewing a loan file after a default by a borrower, lenders should evaluate whether the loan includes an acceleration clause and whether the loan is secured by any personal guaranties. With commercial loans, typically the loan documents will include an acceleration clause, which allows the lender to accelerate all […]
Generally, a commercial landlord does not have a duty to mitigate or reduce its damages after a tenant breaches the commercial lease agreement. See Coast Fed. Savs. & Loan Ass’n v. DeLoach, 362 So. 2d 982, 984 (Fla. 2d DCA 1978). However, there is an exception where the commercial landlord […]
The value of property can be highly dependent on the rights—like easements and rights-of-way—that come along with it. For example, your property value will be affected by the extent of your ability to build on the property, or if a neighboring property owner has the right to drive through your […]
Part 1 of this series provided an overview of Florida’s Consumer Collections Practices Act (FCCPA) and explained why it is imperative for all business owners to be aware of, and understand, the FCCPA. This article explores Section 559.77’s bona fide error defense and how businesses can be prepared to defend […]
All businesses in the state of Florida need to be familiar with Florida’s Consumer Collection Practices Act (“FCCPA”). The FCCPA is found at Sections 559.55-559.785 of the Florida Statutes. The FCCPA is intended to protect consumers and is intentionally unfair to creditors. See §559.552, Fla. Stat. (2019); Kelly v. Duggan, […]
The novel coronavirus pandemic and related government “stay at home” and “shelter in place” orders are causing serious negative financial impacts to business of all types. Many of the hardest hit industries, such as restaurants and retailers, are industries in which a large portion of the business may be operated […]
One of the most important considerations for commercial property owners and managers is maintaining tenant occupancy. However, commercial property owners and managers will inevitably encounter tenants who refuse to pay rent or who refuse to vacate the premises after the lease term has ended. In these situations, the owner or […]
Winding up a construction project and transitioning occupancy to the building owner (i.e. project closeout) can be a harrowing ordeal for an owner with little to no construction experience. Even for experienced owners, Project closeout can be a challenge and is often mishandled, leading to eleventh-hour emergencies, cost overruns, and […]
In addition to the concern over actually contracting the Coronavirus (“COVID-19”), business owners have additional concerns, to wit: how the reaction to COVID-19 will impact their business and how they can protect their business and mitigate losses during this volatile time. Much of these concerns are created not by contracting […]
On Wednesday, March 11, 2020, the World Health Organization officially designated the Coronavirus (“COVID-19”) as a global pandemic. As our government seeks to limit the spread of COVID-19 in the United States, employers are asking what they can and should do, under the law, to protect their workforces and their […]