Tag: contract-law
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“When a Real Estate Deal is Official”
– The real estate contract becomes binding once the seller accepts the offer made by the buyer. – The contract, also known as a purchase agreement, sets out the rights and duties of both parties and includes expectations of behaviors and actions to be taken by each party. – Once both parties sign the contract,…
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Unpaid Commissions and Bonuses: Florida Law FAQs
1. In Florida, workers are entitled to unpaid commissions and bonuses under contract law. 2. Common commission disputes include payment of commission tails post-termination, recategorizing new accounts as house accounts, and reducing commission percentage after sales were made. 3. Bonus disputes often concern entitlement to bonuses post-termination and withholding of bonuses under a “for cause”…
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Should Small Businesses Use Arbitration or Not? Important Factors to Consider
1. Result Risk: The possibility of losing in arbitration and having to pay the prevailing party’s attorneys’ fees should be considered. 2. Customization: Arbitration allows for a high level of customization based on the agreement of the parties involved. 3. Overall Strategy: Companies should have a clear strategy for when to insist on arbitration and…
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Understanding Contractor Negligence in Florida Construction Problems
1. Construction defects in Florida can cause water leaks, mold intrusion, and disruptions to everyday life. 2. Typical sources of water intrusion include roofs, windows, sealant failures, stucco failures, and balconies. 3. Negligence is one possible cause of action that a victim of construction defects can assert against contractors in Florida. 4. To prove negligence…
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Understanding Mediation Agreements in Florida: What You Need to Know
1. The Florida Homeowners’ Association Act requires mandatory mediation for certain disputes before filing a lawsuit. 2. Florida circuit courts typically require attempted mediation before a civil trial occurs. 3. Settlements reached at mediation must be in writing and signed by all parties and their counsel to be enforceable under Rule 1.730(b), Florida Rules of…
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Breaking Up a Business in Florida: What You Need to Know
– Business break-ups in Florida can be messy and difficult. – Planning ahead and considering potential future challenges can help ensure an amicable break-up. – Having an experienced contract law attorney can further increase the likelihood of a smooth break-up. – The presentation by Austin B. Calhoun covers the Florida contract law issues for owners…
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Understanding the Right of First Refusal in Florida
– A right of first refusal (ROFR) is a right to elect to take specified property at the same price and on the same terms and conditions as those contained in a good faith offer by a third person if the owner manifests a willingness to accept the offer. – A ROFR does not grant…