District Court of Appeal of Florida

In a contract action brought to collect on a loan made to a company, and personally guaranteed by its CEO, a final judgment against the company but not against the CEO is reversed over the CEO's two defenses that: 1) the loan violated Florida's usury law and, as a matter of public policy, Florida should not enforce the loan agreement or the guarantee agreement if the loan was indeed usurious; and 2) plaintiff failed to liquidate the collateral in a commercially reasonable manner.

Appellate Information

• Decided 12/15/2006
• Published 12/15/2006

Judges

• EVANDER, J.

Court

• District Court of Appeal of Florida

Counsel

• For Appellees:
  
• Clifford A. Wolff of The Wolff Law Firm, Ft. Lauderdale, for Appellant/Cross Appellee., Perry Douglas West, Cocoa, for Appellees/Cross Appellants Cambridge Energy Corporation and Perry West.