Category Archives: Contract

The SBA Announces New, Simplified Loan Forgiveness Application

As of October 13, 2020, The Small Business Administration (SBA) recently announced a one-page loan forgiveness application for Paycheck Protection Program (PPP) loans under $50,000. This new application streamlines documentation requirements and does not require any complicated calculations as were required on prior versions of the form.

What is the Florida Construction Defect Statute (FCDS)?

Due to the frequency of issues arising out of faulty construction, the Florida legislature has created an alternative method to resolve such disputes that would reduce the need for litigation while protecting the rights of property owners. Under the Florida Construction Defect Statute, a property owner or a condominium/homeowner’s association is required to send a written notice of claim to contractors, design professionals and/or developers to resolve alleged defects before resorting to further legal process. 

Can you cancel your wedding during COVID-19?

The Wedding Industry is a 70+ billion-dollar industry. In light of COVID-19, the hospitality industry is suffering and facing uncertainty. Venues, vendors, and hotels are struggling to carry on or cancel the events. Meanwhile, engaged couples are unsure if their families will be able to travel safely or if there might be a way to host their events safely despite the circumstances.

Unilateral Attorney’s Fees in Florida

In most contracts, there is a provision for attorney’s fees, sometimes called a prevailing party clause. This provision states that if legal action must be taken to enforce the contract, the prevailing party will get its attorney’s fees and costs paid by the losing party. Under Florida law, attorney’s fees are contractual or statutory, meaning that this provision must be included in contracts or statutes to be enforced. Because of this, it is important to include an attorney’s fees clause in any contract in Florida.

What is a California Release in Florida?

Under California law, a “general release” of claims releases the parties from all mutual obligations and all known claims. The language of § 1542 notably states that a general release does not extend to unknown or suspected claims. This means that if one party violated an agreement, but the other party does not find out about the violation until after the agreement has been dissolved, the injured party can still bring a claim and file a lawsuit.

What is a Buy-Sell Agreement?

A buy-sell agreement, buy-out agreement or a business prenup, is typically a contract that specifies how a partner’s share of an enterprise will be reassigned if he or she happens to pass away or dispense themselves from the company. Buy-sell agreements are commonly used for closed corporations and partnerships but may be used for other types of companies as well.

Why Are Employment Contracts So Important?

An employment contract is an agreement between two parties – an employee and an employer, that involves terms and conditions of employment. Some employment contracts may be oral, whereas others are written and contain many descriptive provisions. Oral employment contracts are enforceable but could be much more difficult to prove in court.

What Remedies exist for Breach of Contract?

When there’s a breach of contract for the sale of goods, the UCC governs.  Under the UCC, failure to deliver goods is a material breach, but in common law, it is not.  Any contract can contain a “liquidated damages” provision which typically includes a certain amount of money that the non-breaching party is entitled to if a party breaches the contract.