Many people create a new business with 2 owners each owning 50%.  When times are good, usually at the start of the business, the equal ownership is generally not a troublesome issue.  However, when times get bad, or even when times are good, the 2 individuals may develop different ideas on how to run the company.  Without some ground rules on how to resolve these differences, a management deadlock will result.  If such a deadlock exists, in the extreme case, one of the owners can request a court to judicially dissolve the company.  If sufficient grounds exist, the court will order a dissolution with the company liquidating its assets, paying off its creditors and distributing the remaining moneys, if any, to the owners.

Such liquidation may not be in the best interest of all parties.  In that case, one of the owners may use this circumstance to leverage the other owner to buy him/her out at an above-market price.  This situation can be avoided if the owners sign an agreement at the outset of the business, or even thereafter, stating, among other things, the rules for breaking a management deadlock and/or for determining the price to be paid in the case of a buyout of an owner’s interest.  Such agreement may also include restrictions regarding the sale of the ownership interest to a third party and procedures for handling the death or disability of an owner.

Legal counsel can help business owners anticipate these and other issues and suggest ways to minimize their interruption of your business.

– John Wright, Esquire, is a corporate attorney with Bogin, Munns, & Munns, P.A., a full service law firm with offices in Orlando, Clermont, Kissimmee, Deltona, Daytona Beach, Ocala, Melbourne, Gainesville, and Leesburg, Florida.  Mr. Wright works out of the Melbourne and Kissimmee offices of the firm and welcomes questions and comments regarding the above and can be reached at jwright@boginmunns.com.

NO LEGAL ADVICE: This blog entry is not intended as legal advice nor should you consider it as such. It is intended only as general information.  You should not act upon this information without retaining professional legal counsel. Please keep in mind that merely subscribing to or reading this blog or otherwise contacting Bogin Munns & Munns, P.A. in the manner that you have will not establish an attorney-client relationship with our firm. Bogin Munns & Munns, P.A. cannot represent you until the firm knows there would not be a conflict of interest and the firm determines that it is otherwise able to accept the engagement. The engagement would also be confirmed by a written agreement.

Spring time is almost here in Florida!  It’s time to wipe down the cobwebs and dust off the barbecue and lounging chairs, spruce up the swimming pool, and invite your friends and family over for some good old fashioned food and southern frivolity.  Suddenly, somebody is seriously hurt or, even worse, dies as a result of an injury.

An Ounce of Prevention is Worth a Pound of Cure!

As a father of four under the age of 12, I know too well that accidents happen.  Many accidents can be prevented with a little care and diligence.  Have the cockroach and rodent poisons been locked away or put out reach?  Did you tighten the loose ladder rung attached to the play structure?  Are there dead tree limbs just waiting to fall?  Does your landscaper or contractor building your new ‘Florida Room’ have adequate insurance in case of injury while on your property?

Am I Liable for the Injuries Sustained as a Result of the Accident?

This article cannot discuss every nuance of the law for every situation.  First, there is not enough room, and second, you would be bored to tears!  Generally speaking, the law imposes a ‘duty of care’ on every person who owns or possesses land in Florida.  For instance, if you give someone permission to be on your property, you owe a duty to act as a reasonable prudent person.  You must keep the premises in a safe condition, seek out any hidden dangers, and either warn about the dangers or take reasonable steps to make them safe.

For those labeled as trespassers, you owe a duty to refrain from wanton negligence or willful misconduct.  If you see the trespasser, however, you also owe a duty to warn of known dangers that are not easily discovered.  A child who is injured while trespassing may still bring suit against you if there is an ‘attractive nuisance’.  Do you have something that you know or have reason to know children are likely to be drawn toward and could result in a risk of death or serious injury? Children are curious creatures and do not always perceive the risk they are taking while exploring their environment. It is up to you to exercise reasonable care to eliminate the danger or otherwise protect the children.

Insurance…a Simple Way to Help Protect Your Hard Earned Assets!

I’m not an insurance salesman, but adequate insurance can bring peace of mind. A lawsuit can result in hundreds of thousands, or even millions of dollars in damages, not to mention the legal fees and costs.  If you have sufficient insurance and an injury claim is made, you can simply turn the problem over to the insurance carrier, who will then hire legal counsel to protect you.  Just as you should ensure you are adequately protected with automobile, health, life and disability insurance coverage, it is imperative that you have adequate premises liability insurance.  Make sure your insurance agent thoroughly explains the coverage available, including the benefits of an ‘umbrella policy’. This is one case where being penny-wise may end up being pound-foolish!

– Adam S. Towers, Esq., is a shareholder with Bogin, Munns, & Munns, P.A., a full service law firm with offices in Orlando, Clermont, Kissimmee, Deltona, Daytona Beach, Ocala, Melbourne, Gainesville, and Leesburg, Florida.  Mr. Towers manages the Gainesville office of the firm and handles business, real estate, and insurance litigation.  He welcomes questions and comments regarding the above and can be reached at atowers@boginmunns.com

NO LEGAL ADVICE: This blog entry is not intended as legal advice nor should you consider it as such. It is intended only as general information.  You should not act upon this information without retaining professional legal counsel. Please keep in mind that merely subscribing to or reading this blog or otherwise contacting Bogin Munns & Munns, P.A. in the manner that you have will not establish an attorney-client relationship with our firm. Bogin Munns & Munns, P.A. cannot represent you until the firm knows there would not be a conflict of interest, and the firm determines that it is otherwise able to accept the engagement. The engagement would also be confirmed by a written agreement.

Pursuant to Florida Statute Section 768.79 (1), the Florida Legislature has allowed both the Plaintiff and Defendant the ability to file in the courts of this state what are called Proposals for Settlement, formerly known as Offers of Judgment, to the opposing party. If a Defendant files a Proposal for Settlement which is not accepted by the Plaintiff within 30 days, the Defendant shall be entitled to recover reasonable costs and attorney’s fees incurred by her or him or on the Defendant’s behalf pursuant to a policy of liability insurance or other contract from the date of filing the offer if the judgment is one of no liability or the judgment obtained by the Plaintiff is at least 25% less than such offer, and the court shall set off such costs and attorney’s fees against the award. If a Plaintiff files a Proposal for Settlement which is not accepted by the Defendant within 30 days and the Plaintiff recovers a judgment in an amount at least 25% greater than the offer, she or he shall be entitled to recover reasonable costs and attorney’s fees incurred from the date of the filing of the Proposal.

Florida Statute Section 768.79 (2) requires a) that the Proposal for Settlement be made in writing and state that is being made pursuant to this section; b) must name the party making it and the party to whom it is being made; c) state with particularity the amount offered to settle a claim for punitive damages, if any; and d) state its total amount. Subsection (3) requires that the offer be served upon the party to whom it is made, and shall not be filed with the civil court unless it is accepted.

In negligence actions, the Proposal for Settlement Rule can be highly effective in placing pressure on opposing parties to settle lawsuits prior to trial. The Florida legislature’s intent in creating Proposals for Settlement may have in fact been to promote judicial efficiency by reducing trial dockets. However, while the Proposal for Settlement law appears to be fair on its face, the consequences of its enforcement are not equitable. Many Plaintiffs who are injured in negligence claims do not have the resources to satisfy a Defendant’s attorney’s fees and costs if a Proposal for Settlement is not met from a jury verdict. If an individual Plaintiff cannot afford to pay a Defendant’s attorney’s fees and costs, the civil court will impose a cost judgment against the Plaintiff which will accrue interest at the percentage rate set by the civil court for the given year. This can adversely affect a Plaintiff’s credit, and has even driven some Plaintiffs into bankruptcy. These effects only add insult to the Plaintiff’s injuries, which were often caused through no fault of his or her own. A corporate Defendant, in particular, will likely be in a much better financial position to satisy a Plaintiff’s attorney’s fees and costs. While none of my clients have experienced the adverse consequences of a Proposal for Settlement that was not met, this law forces both parties, but particularly the Plaintiff, to prudently consider a Proposal for Settlement and to understand the true value of his or her case. It is my goal to make sure that each of my clients understands the strengthens and weaknesses of his or her case in order to make an informed decision as to whether to accept a Proposal for Settlement or to proceed to trial.

– Michael Truax, Esq., is an experienced personal injury attorney with Bogin, Munns, & Munns, P.A., a full service law firm with offices in Orlando, Clermont, Kissimmee, Deltona, Daytona Beach, Ocala, Melbourne, Gainesville, and Leesburg, Florida.  He welcomes questions and comments regarding the above and can be reached at mtruax@boginmunns.com

NO LEGAL ADVICE: This blog entry is not intended as legal advice nor should you consider it as such. It is intended only as general information.  You should not act upon this information without retaining professional legal counsel. Please keep in mind that merely subscribing to or reading this blog or otherwise contacting Bogin Munns & Munns, P.A. in the manner that you have will not establish an attorney-client relationship with our firm. Bogin Munns & Munns, P.A. cannot represent you until the firm knows there would not be a conflict of interest, and the firm determines that it is otherwise able to accept the engagement. The engagement would also be confirmed by a written agreement.

I. What automobile insurance is required by Florida law?

Florida Law requires that a vehicle owner (of four wheels or more) purchase a minimum of $10,000.00 of Personal Injury Protection (PIP) and a minimum of $10,000.00 of Property Damage Liability (PDL) insurance.

II. What basic coverage is available to an insured (or qualifying individual)?

Personal Injury Protection (PIP) –minimum of $10,000.00 (with or without a deductible) – REQUIRED

1. Reasonable Medical Expenses – paid at eighty percent (80%) of two-hundred percent (200%) of the Medicare fee schedule amount.
2. Wage loss reimbursement – paid at sixty percent (60%) for any loss of gross income and loss of earning capacity (per individual with proper doctor recommendation) for the inability to work as a result of  an injury sustained in a motor vehicle accident  – paid not less than every 2 weeks.
3. Expenses Reasonably Incurred – in obtaining from others ordinary and necessary services, but for the injury, the injured person would have performed without income for the benefit of his or her household.
4. Death Benefit equal to the lesser of five thousand dollars ($5,000.00) or the remainder of unused personal injury protection (PIP) benefits per individual.

What to look out for….

-          Pay yourself as soon as possible – expenses – wages, mileage, etc.
-          Avoid wage loss exclusions from your auto insurance policy.
-          Avoid high deductibles if you are unable to pay it when necessary.
-          Notify your insurance carrier of all household members, particularly licensed resident relatives.
-          Attend and be on time to any independent medical exams (IME) requested by your insurance carrier- this is required by an insured per contract, but it is often intended to limit/terminate PIP/Med Pay benefit coverage.

Medical Payment (Med Pay) – Twenty percent (20%) of the remaining balance due to medical providers not paid by PIP benefits (as paid under the Medicare schedule) – Med Pay is generally purchased up to a certain dollar amount.

What to look out for….

-          Med Pay does not cover wage loss, household expenses, etc.
-          Possible subrogation rights on third party liability claims.
-           Med Pay is paid at 100% and no longer subject to the Medicare fee schedule once PIP benefits have been exhausted.

Uninsured/Underinsured Motorist (UM) Coverage – Per individual/per accident coverage for an insured, his/hers resident relatives, and or his/her accident passengers (if in an insured vehicle is involved in a motor vehicle accident) caused by an uninsured or underinsured motorist.

1. Stacking – when an insured combines uninsured motorist coverage from more than one source/policy.
2. Non-stacking – limited to one vehicle only.

What to look out for….

-           Cover yourself first – add at least minimal coverage to your insurance policy – many insurance carriers fail to clarify what UM coverage is and/or its importance to an insured and his/her family.

Property Damage Coverage (PD)

1. Comprehensive coverage – Damage done to an insured’s vehicle other than collision.
2. Collision coverage – Damage done to an insured’s vehicle as a result of a motor vehicle accident/collision.

What you to look out for…

-          High deductibles.
-          Conduct a cost-benefit analysis on old, high mileage or damaged vehicles.
-          If comprehensive coverage is purchased in Florida it is sometimes possible to receive free windshield repair or replacement.

Rental coverage

Maximum rental allowance per day or per accident coverage.

III.  What coverage is available to another party if an insured driver (or qualifying individual) causes a motor vehicle accident?

Bodily Injury (BI)

Per individual /per accident.

What to look out for….

-          Not required by Florida Law.  However, an individual’s drivers license may be suspended and you may be required to purchase BI for three (3) years if you are found to be at fault for an automobile accident without BI coverage.
-          No duty for insurance carrier to defend an insured against lawsuits if no BI was purchased.
-          Personal assets may be more susceptible if no BI is purchased or if it is not sufficient coverage for the damages  sustained.

Property Damage Liability (PDL) - REQUIRED

Per accident

What to look out for….

-          Personal assets may be more susceptible if no or not enough coverage is purchased.

Cynthia M. Thomas, Esq., is a personal injury attorney with Bogin, Munns, & Munns, P.A., a full service law firm with offices in Orlando, Clermont, Kissimmee, Deltona, Daytona Beach, Ocala, Melbourne, Gainesville, and Leesburg, Florida.  She welcomes questions and comments regarding the above and can be reached at cthomas@boginmunns.com

NO LEGAL ADVICE: This blog entry is not intended as legal advice nor should you consider it as such. It is intended only as general information.  You should not act upon this information without retaining professional legal counsel. Please keep in mind that merely subscribing to or reading this blog or otherwise contacting Bogin Munns & Munns, P.A. in the manner that you have will not establish an attorney-client relationship with our firm. Bogin Munns & Munns, P.A. cannot represent you until the firm knows there would not be a conflict of interest, and the firm determines that it is otherwise able to accept the engagement. The engagement would also be confirmed by a written agreement.

Rulon Munns is featured in the January/February issue of Central Florida’s Lifestyle Magazine Executive Living (a  supplement to Orlando Business Journal). Click here to learn more about Rulon Munns and his faith, family, and  work.