By: Daniel T. Pascale, Esq.
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Liquidated Damages Clause Enforced in Real Estate Contract
San Francisco Distribution Center, LLC v. Stonemason Partners, LP,
39 Fla. L. Weekly D790 (Fla. 3d DCA 2014)
Vendor of commercial property brought breach of contract action against failed purchaser, seeking to recover deposit which closing agent had returned to vendor. The Circuit Court, Miami–Dade County, Ronald C. Dresnick, J., entered summary judgment for vendor, and purchaser appealed.
Holdings: The District Court of Appeal, Emas, J., held that:
- Liquidated damages provision was not unenforceable on grounds vendor could choose between damages and specific performance;
- Amount to be forfeited was not grossly disproportionate to sale price; and
- Provision was not rendered unconscionable by subsequent sale for higher price.
Foreclosure and Mortgagor’s Bankruptcy Discharge
Deutsche Bank Trust Co. Americas v. Nash,
39 Fla. L. Weekly D829 (Fla. 2d DCA 2014)
Mortgagee brought foreclosure action against mortgagors, and mortgagors stipulated to entry of foreclosure judgment. After mortgagors were discharged in bankruptcy, they moved for relief from the foreclosure judgment and sale. The Circuit Court, Hillsborough County, Perry A. Little, Senior Judge, granted the motion. Mortgagee appealed.
Holding: The District Court of Appeal, Silberman, J., held that:
Mortgagors were not entitled to relief from the foreclosure judgment and sale as a result of their discharge in bankruptcy.