Category Archives: Business Law
New Rules for Old Business? How to Determine if Newly Enacted Statutes Will Be Retroactively Applied
Everyday, federal and state legislators consider and enact statutes that change the rules governing business relationships between parties. While many believe these statutes only impact conduct that occurs following the statute’s effective date, sometimes this is not the case. Rather, a statute may operate retroactively, thus impacting conduct and transactions that transpired prior to… Read More »
Nearly Two Years Under Florida’s New Summary Judgment Standard: Appellate Courts Regularly Affirming Summary Judgment
May 1, 2021, the effective date of Florida’s amended summary judgment standard under Rule 1.510 (“New Rule”), turned the tide in terms of how Florida courts must adjudicate motions for summary judgment. Notably, whereas under the prior standard, “the existence of any competent evidence creating an issue of fact, however credible or incredible, substantial… Read More »
Is Covid-19 an “Act of God” Excusing Performance of a Contract?
Florida courts have long recognized that “acts of God” may provide a legal justification for nonperformance of a contract. What constitutes an “act of God,” however, evades precise definition. The Florida Supreme Court has described an “act of God” for purposes of a contract as follows: An act of God, such as will excuse… Read More »
Can You Enforce a Non-Compete Clause in Florida?
As an employer, preparing non-compete clauses can be useful when it comes to protecting certain aspects of your business. It is important to draft a legally binding agreement so that it can be enforced in the event of a breach by the former employee. In Florida, a non-compete agreement can be enforced provided it… Read More »
What is a PLLC and How Does it Differ from an LLC?
PLLC stands for professional limited liability company, which is similar to a regular LLC, or limited liability company. The main difference is there are requirements and restrictions that limit the formation of a PLLC to a business that provides a “professional service.” Chapter, 621, Florida Statutes defines the term “professional service” as any personal… Read More »
Common Deadlock-Breaking Mechanisms for LLC Disputes
When preparing an LLC operating agreement, you should include member deadlock-breaking mechanisms. When a deadlock occurs, it can create problems and cause disputes between the LLC’s members. Without any deadlock-breaking mechanisms, the LLC may face a number of avoidable problems, including litigation expenses, loss of productivity, and resentment between members. In extreme situations, a… Read More »
Can an LLC Expel an LLC Member in Florida?
Disputes between LLC members are relatively common, and there are situations where the discussion of expulsion comes up. In Florida, you can only expel an LLC member under certain circumstances, which are outlined in the state’s Revised Limited Liability Company Act, known as the “Revised Act.” The Revised Act took effect on January 1,… Read More »
Is an Operating Agreement Required for an LLC in Florida?
Florida doesn’t require that you have an Operating Agreement for your Limited Liability Company (LLC), but it is recommended that you have one. When setting up your company, it’s beneficial to seek legal advice from a Florida LLC Business litigation attorney. Business attorneys can not only assist with setting up your LLC, but they… Read More »
Member Versus Manager Managed LLCs in Florida
When setting up a limited liability company (LLC) in Florida, you need to decide how the business will be managed. An LLC functions similar to a corporation, but the management structure is different. You can choose to either have it managed by one or more members, or by a manager. Why Do You Need… Read More »
How to Dissolve a Corporation
Unless a limited duration is expressly noted in the articles of incorporation, a corporation exists in perpetuity. Therefore, in order to dissolve a corporation, formation action must be taken by the corporation itself, or by others, in order to terminate its existence. Corporations can be dissolved in one of two ways: voluntary or involuntary…. Read More »