Brice v. Megatron Motors Inc. et. al.
Jan 16, 2017OUTCOME: Judgment awards of $65,115.83 and $55,000.00 against Defendants
Contract Dispute - Upon default by Defendant(s) on a promissory note and personal guarantee plaintiff, lender, was forced to retain counsel and recover the principle amount left on the promissory note ... along with any and all liquidated damages provided by the respective Note and Guarantee. Defendants alleged in its counterclaim that the creatively drafted promissory note was usurious under Florida law, arguing the contract was void. After some litigation of the matters, the Court's eventual result left Defendants with a hefty price to pay--over twice the principle amount. Although larger than most liquidated damages awards, the equitable award did allow for attorney's fees and the costs of a collection process in another state to not being borne by the Plaintiff.
