Statute Of Limitations | Schecter Law, PA Blog

Posts Tagged ‘statute of limitations’

Are your Claims Barred in Florida?

August 20th, 2010

claims barred in florida Every business owner wants to get paid for services performed. Whether you are working with the public or involved in business-to-business relationships, you may have to take legal action for unpaid invoices and broken agreements.

In most instances, you can sue and recover your losses when you lose money at the hands of another person or business.

But here’s the deal: you must file the lawsuit in the time the law allows – the statute of limitations (SOL).

If you fail to commence your action before the SOL period expires, you can be barred from seeking legal remedies permanently. This includes the recovery of monetary and other damages.

The statute of limitations period varies, depending on the type of case you have, where the injury occurred and other factors. It’s in your best interest to know the amount of time you have to file a lawsuit to recover your losses.

Written and verbal contracts

Many civil actions stem from breach of contract issues involving business-to-business transactions. When a written contract is at issue, the SOL period is 5 years. If there is a verbal contract, the time limit is only 4 years.

Slander, defamation and libel

If you are trying to build a business, the last thing you need is for someone to slander you and your company. When your reputation has been damaged due to slander, libel or defamation, you have 2 years from the date of injury to file a suit in Florida against the slanderer.

Fraud

The statute of limitations for a lawsuit arising from fraudulent actions is 4 years. There are many other factors that affect the SOL period.

If you believe you are a victim of business fraud, contact our business lawyers today. Give us a call at 954-779-7009.

Tags: claims barred, Florida, recover money, SOL, statute of limitations
Posted in breach of contract, business, South Florida | No Comments »

Statute of Limitations in Florida Breach of Contract Cases

July 19th, 2010

By Mark Schecter | Comments Off

Florida statute of limitations If you have incurred losses due to a broken contract, you can recover monetary or other damages you sustained.

However, there is a legal time limit that is placed on your pursuit of recovery. It’s known as the statute of limitations.

If you fail to file a lawsuit within the time allowed by law, you may be permanently barred from seeking legal remedies.

The length of the statute of limitations varies from state to state. And it can be extended when all parties reach a mutual agreement to toll the time period.

In Florida, the SOL period can range from 2 to 5 years, depending on the type of civil action you wish to pursue.

In breach of contract cases, the time period is 5 years when a written contract is involved.

Florida Court’s Opinion

In Beck vs. Lazard Freres & Co, LLC, the Florida court barred an action that was filed 8 years after a contract breach occurred.

The lawsuit was initiated by Beck, a trustee for Southeast Banking Corporation, against Lazard Freres & Co., an investment firm. Lazard was accused of writing a letter endorsing another banking institution which later proved to be detrimental to Southeast.

Beck alleged that Lazard breached its contract with Southeast, failed to honor its duty of good faith and failed to perform services with reasonable care.

Lazard wrote the letter in September of 1988. The purchase was approved by Southeast in December of 1988. However, the suit for breach of contract was filed 8 years later, in December of 1996.

Because Beck wasn’t aware of the breach for years, he believed that the SOL did not begin to run until the breach was brought to his attention, and not when the actual letter was written and delivered.

The Florida court disagreed, and held that:

“Actions for breach of contract are barred five years after the cause of action accrued regardless of whether the plaintiff knew that it had a claim.”

Beck’s lawsuit was dismissed and his claim for breach of contract was barred by Florida’s five year statute of limitations.

If you have been injured due to a breached contract or agreement, contact our contract law attorneys before it’s too late.

Click here to email or call us at (954) 779-7009.

Tags: breach of contract, Broward County, Florida, Fort Lauderdale, SOL, statute of limitations
Posted in breach of contract, business, South Florida | Comments Off

Which statute of limitations applies to your Florida case?

August 22nd, 2009

By Mark Schecter | 1 Comment »

Previously on this blog, we discussed the basics you should know about Florida’s statute of limitations law.

Today, we’re reviewing the standard SOL period associated with matters that often result in civil litigation.

1. Written and verbal contracts

Some of the most common civil actions arise out of breach of contract claims.

If your business has sustained financial or other damages as a result of a matter involving a written contract, the standard statute of limitations period is 5 years. If the matter involves an oral/verbal contract or agreement, the SOL period is only 4 years.

Slander, libel and/or defamation

I’ve often said, “It takes your whole life to develop your word and your reputation. It takes a second to lose it.”

When it comes to building a business, the last thing you need is for someone to defame or slander you or your business to current or potential customers.

If you’re a victim of slander, libel or defamation, you may have sustained damages to your personal and professional reputations, in addition to substantial monetary damages. To legally recover those damages, you must file a lawsuit in Florida courts within 2 years of the incident.

Fraudulent actions of another

Unfortunately, in this economy incidents of fraud continue to rise. Although you cannot control the actions of another person, you can do your best to protect your own interests.

If you’ve suffered financial, physical or emotional damages due to the fraudulent actions of another person or entity, you have 4 years from the date you were injured to seek legal remedies for your losses.

Professional malpractice

Incidents of professional malpractice are probably more common than you realize.

You only have 2 years to file a lawsuit for losses caused by malpractice. If you fail to sue within the time allowed, you may be unable to recover damages or seek any other legal remedies.

Is your statute of limitations approaching?

It is in your best interests to consult an experienced Florida attorney sooner rather than later to discuss which statute of limitations period applies to your case.

It’s disheartening for anyone to learn they cannot recover the damages they sustained due to the negligence or wrongful conduct of another person or business.

If you believe you (or your business) is a victim of any wrongdoing, contact our Florida attorneys to discuss your legal options.

Tags: breach of contract, defamation, legal remedy, slander, SOL, statute of limitations
Posted in business, contract law | 1 Comment »