Lapciuc v. Lapciuc
The Third DCA reversed portions of an order enforcing a settlement agreement between former spouses who were co-owners of a warehouse business. The trial court implicitly found a $7 million increase to a line of credit was 'commercially reasonable and prudent' under the settlement agreement, and separately declared a Triple-Net Lease valid with a self-executing subordination clause, both without any testimonial or documentary evidence and (as to the lease) on an issue not noticed for hearing.
Key facts
- Former spouses who were co-owners of a warehouse business entered into a settlement agreement addressing management and financing of the business.
- The trial court enforced portions of the settlement agreement by implicitly finding a $7 million line of credit increase was 'commercially reasonable and prudent' and by declaring a Triple-Net Lease valid with a self-executing subordination clause, all without testimonial or documentary evidence and without notice of hearing on the lease issues.
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Why it matters
Useful, quotable authority for practitioners opposing summary enforcement of settlement agreements: where the agreement conditions conduct on a standard like 'commercially reasonable and prudent,' the movant must put on… — full analysis with a trial
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