Payton & Associates, LLC

Miami Business Litigation Lawyers

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Miami, FL 33131

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Payton & Associates, LLC

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Miami Business and Commercial Law Blog

Obligations when there is an anticipatory breach of contract

Businesses in Florida enter into contracts every day and by doing so they are agreeing to be bound by the terms of the contract. This means they must perform the obligations they agreed to perform. This could be either to perform certain services, provide certain products or perhaps simply pay for another company's goods or services. Another aspect of many contracts is that the parties to the contract must complete their obligations within a certain timeframe.

When companies do not perform their obligations within the proper timeframes or not at all they are in breach of contract. This means that the other party or parties to the contract can seek damages against the breaching party. However, there are certain situations when one party makes it clear that they are not going to perform their obligations before it is actually time for them to perform them. When this occurs it is known as anticipatory breach of contract.

Growers of Carla avocado seeks injunction against clones

There are many different products and that people use in Florida. These products are made by various companies and can earn those companies significant amounts of money. So, it is important for those companies that others cannot simply copy their products and take business away from them. Therefore, to protect these products and continue to be able to earn money off their inventions, people and companies can obtain trademarks and patents so they are the sole owners of the product.

While usually people do not think of fruits or vegetables when they think of patents or trademarks, recently the growers of the Carla avocado filed for an injunction against another produce company to stop selling a clone avocado. The company that first discovered the Carla patented it and obtained exclusive rights to sell it until 2021. It was found on one single tree, and the company claims that the new company had to have cloned it by grafting a branch from the original tree.

Contractors and subcontractors must be paid promptly

Construction projects in Florida vary in size and complexity, but many involve various different types of trades in order to complete the project. This is especially true for large projects such as office buildings and apartment buildings. These types of projects will include heavy equipment operators, steel workers, electricians, people to put up sheetrock, painters and many more professionals. Generally, there is not one company who will do all these tasks, so construction projects generally involve many different companies to do each specialty.

So, usually there is a general contractor who oversees the whole project and hires the various subcontractors to complete specialized parts of the project. These various subcontractors will also complete their part of the project at various times since oftentimes certain steps in the overall project must be completed before the next step in the project begins. This also means that these subcontractors will be expecting payment at various times throughout the project.

A Financial Advisor's Duties Dealing With GDPR

Many firms are dragging their heels in complying with GDPR. The penalties for doing so can be quite severe.

Large or small wealth management firms, financial advisors, asset managers, estate planning professionals and others in the financial services industry residing in the European Union must comply with General Data Protection Regulations that became effective in May 2018. Firms outside the EU but conducting business within the EU must also comply, however some firms are dragging their heels to do so.

What was formerly a directive adopted in 1995 is now the law in the EU. It is reported that authorities have engaged more than 200 additional investigators to enforce compliance. Depending on the seriousness of a breach, penalties for non-compliance can be quite severe--up to 20 million euros or 4 percent of the firm's gross revenues.

When does one have a tortious interference claim?

Businesses in Florida generally enter into contracts in order obtain some benefit for their companies. There are a variety of types of contracts that they enter into, in which one business provides goods or services to another for compensation. These contracts can be very lucrative, but since many businesses offer similar goods or services, there can be competition among them to secure contracts and the compensation that comes with these contracts.

Generally, this is honest competition, but there are times when a business may purposely interfere with an existing contract in order to gain something for themselves. If a business engages in this type of behavior, they could be guilty of tortious interference. This occurs when one company knows of an existing contract, intends to interfere with that contract, there was in fact interference and the interference was improper. Finally the interference must harm the other party financially.

Factors used in contract renegotiations of commercial leases

There are many large office parks and buildings throughout Florida. These buildings are generally owned by one owner and then the individual spaces are leased to various businesses who pay rent each month. The landlords/owners of these properties can earn a significant amount of money from these leases, but it is important that they keep the spaces filled with current tenants to ensure they are receiving rent for every space.

When a new business moves into a space, generally a commercial lease agreement is signed that states all the terms of the rental agreement. This includes how much rent will be as well as many other covenants dictating what the landlord is responsible for and what the tenant is responsible for throughout the lease. However, circumstances change throughout the term of a lease, which can last for many years at a time. So, from time to time either the landlord or the tenant may want to renegotiate the lease.

Contract disputes over revocation of offers

People and businesses in Florida generally conduct their businesses by offering certain goods and services in exchange for money or other consideration. At a very basic level this type of offer and acceptance creates a contract between the parties. These can be very complicated, though, so many times these contractual relationships are put into writing and signed by the parties to ensure the performance of both parties to the contract.

However, before the final contract is finalized, there is oftentimes negotiations regarding the terms before they are finally agreed upon by both parties. This can lead to contract disputes. One such dispute that may arise is that one party may revoke a previously made offer that the other side believed they already accepted. This can lead to a dispute regarding whether the offer was accepted or not, because a contract is not formed until offers are accepted.

Shareholder derivative claims and breach of fiduciary duty

There are many corporations in Florida in many different industries that do many different kinds of work. However, while there are many differences between the corporations in Florida, they all have one main similarity: they all have shareholders. The number of shareholders depends on the size of the company and other factors, but the shareholders own a piece of the company. This does not necessarily mean that they run the day-to-day operations of the company, but they do have a financial interest in the company.

That financial interest is directly affected by the success or lack of success of the company. The decisions made by the directors and managers of the company are therefore very important to shareholders. The shareholders may not agree with every decision the company makes, but they must trust that the decisions made by the directors and managers are being made to benefit the corporation only. However, this does not always happen, and sometimes their decisions hurt the company and ultimately the shareholders.

Common types of construction disputes that arise

There are many buildings and other structures in Florida, and none of them built themselves. Each building required construction, and given the different aspects of any building project, they often require a general contractor and then various subcontractors to complete various aspects of the project. All of the people involved must do their job in order to complete the project correctly. Then, once their jobs are completed, they need to receive the compensation that they earned.

To help ensure that the work is completed by the contractors and subcontractors as well as to ensure that people are paid for their work, these various people sign contracts. These could be contracts between the owner and the general contractor or contracts between general contractors and subcontractors. Contracts can be broken, though, and when that occurs there can be disputes that arise and lead to construction litigation.

Assisting companies when business torts arise

There are many different businesses in Florida. However, no matter how big or how small a company is, it needs to have good leadership to be successful. Obviously larger companies will need more people in positions of leadership than smaller ones, but all those in leadership positions need to work together in the best interests of the company. However, this is not always the case and sometimes people in positions of power will act on their own behalf instead of the company's behalf.

When this occurs, the company may be faced with a business tort. These can come in a variety of forms such as fraud, breach of a duty of care, loyalty, or fiduciary duties, negligent misrepresentation on contracts, usurpation of business opportunities and many others. Basically, business torts include any type of actions in which the people responsible for the tort were intentionally trying harm the company for their own benefit or the benefit of others.

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