Did you sign a guarantee for a $10,000,00 loan? Are you a guarantor of a loan? If you are involved in Florida business litigation or Palm Beach commercial litigation, listen up. There is a brand new business litigation appeals court decision Florida which was just handed down which you may want to read about.
High Dollar Commercial Litigation in Florida
- If you ever signed a guaranty for a loan, do you know what you are getting yourself into? in Florida business litigation circles?
- Or, how about this: if you are a business owner or a partner of a Florida partnership or a managing member of a Florida Limited Liability Company (LLC) and you lent money to someone, do you know how to get collateral for your loan?
- Can you garnish wages of the guarantor?
- Aren’t wages of a head of a Florida household exempt from garnishment?
- In Florida, which has a lot of asset protection laws, which frustrate Palm Beach business litigators, do you know the way around the Florida law which exempts wages from garnishment?
Florida’s 1st District Court of Appeal $10,000,000 Garnishment Case: a must read for any commercial litigator Palm Beach
- Consider reading Hart v. Wachovia Bank, whose opinion was written by
- Judge Bilbrey of Florida’s 1st DCA
- 40 Fla. L. Weekly D 537
- The Florida appeals court, in this commercial litigation appeal case, re-states basic law of Florida garnishment, and references the Florida asset protection law against garnishment of wages of a head of a household
- But the Florida appeals court in this business lawsuit, also re publishes the “waiver” and “acknowledgement” clause of the Guaranty and explains why the language in that waiver permitted the lender to garnish wages
- A must read for any business litigation law firm West Palm Beach