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Showing posts with the label lost profits

Damages for Improper Termination of Contract

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In the event of improper termination from the owner, the contractor is entitled to lost profit on the work unperformed and for the cost of the labor, materials and services provided for the project prior to termination. Trenton H. Cotney Board Certified in Construction Law Trent Cotney, P.A. 1207 N Franklin St, Ste 222 Tampa, FL 33602 (813) 579-3278 www.trentcotney.com

Prejudgment Interest on Lost Profits

Prejudgment interest is recoverable on lost profits.  Bosem v. Musa Holdings, Inc. , 46 So.3d 42 (Fla. 2010). Trenton H. Cotney Board Certified in Construction Law Trent Cotney, P.A. 1207 N Franklin St, Ste 222 Tampa, FL 33602 (813) 579-3278 www.trentcotney.com

Architect Expert Testimony

In Parc Royale East Development, Inc. v. U.S. Project Management, Inc. , 38 So.2d 865 (Fla. 4th DCA 2010), an architect presented expert testimony to support lost profit damages.  The Court held that the expert testimony was insufficient because it contained conclusions and inferences that were not supported by the proffered evidence. Trenton H. Cotney Florida Bar Certified in Construction Law Glenn Rasmussen Fogarty & Hooker, P.A. 100 S. Ashley Dr., Suite 1300 Tampa, FL 33602 (813) 229-3333 http://www.glennrasmussen.com

Recent Case: Election of Remedies, Lost Profit, and Payment Bonds

The Plumbing Service Company v. Progressive Plumbing, Inc., Case No. 5D09-3717, filed October 22, 2010: Trial court ruled that sub-subcontractor was barred by election of remedies doctrine from recovering damages for breach of contract (loss profits on uncompleted work) due to recovery under a s. 713.23 payment bond. Reversed and remanded to allow such action since it was not duplicative of bond coverage for payment of completed work, since election of remedies is based on estoppels to prevent double recovery for the same wrong. Court noted that s. 713.30 provides that bond remedy is “cumulative to other existing remedies ….” Trenton H. Cotney Board Certified in Construction Law Trent Cotney, P.A. 1207 N Franklin St, Ste 222 Tampa, FL 33602 (813) 579-3278 www.trentcotney.com