In the article, Bernhard Law Firm addresses the recent decision from the Third District Court of Appeal in Snow v. Wells Fargo Bank, N.A., holding that a lender’s issuance of a letter demanding payment did not constitute an acceleration of the debt, and thus did not trigger the commencement of the five year statute of limitations. Bernhard Law Firm discusses that the core of the Court’s holding was a finding that the notice letter was not self-executing. In an effort to clarify and counterbalance the Snow decision, Bernhard Law Firm discusses the concept of self-executing legal documents and provides examples of letters that should suffice the test for self-execution.
If you have questions about contract interpretation, breaches and drafting, please contact Bernhard Law Firm at 786-871-3349 or firstname.lastname@example.org. The Court’s decision in Snow v. Wells Fargo Bank, N.A., 156 So. 3d 538 (Fla. 3d DCA 2015), can be found HERE (click for link).