The heated real estate market that existed over the past few years brought numerous specific performance lawsuits to our litigation department. A suit for specific performance is one in which a party to a contract demands that the opposing party continue with the contract and asks the court to force…
If a condition precedent to performance does not occur there is not a binding contract, therefore no commission is due the broker. The Fifth District affirmed the trial court’s decision in Grant Mitchell and Mitchell Realty, Inc. v. W. Frank DiMare and K.S. Toney, 31 Fla. L. Weekly D2238d, holding…
The Second District Court of Appeals affirmed the trial court’s decision that held when a payment that was due 45 days after execution of the contract that payment had to be made regardless of the fact that the 45th day landed on a Saturday. In Metro Development Group, L.L.C. v….
On April 20, 2005, President Bush signed into law the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (the “Act”), making the most significant change to the Bankruptcy Code since 1978. Most of the changes made by the Act do not go into effect until October 17, 2005. A…
The simple phrase “AS IS” is widely used in today’s transactional society. But what exactly is AS IS? The condition of the property is often a major sticking point in the negotiation of a sales transaction. Buyers usually desire assurances or warranties regarding the condition of the property. Sellers, on…