CopyCited 5 times | Published | Florida 5th District Court of Appeal | 2001 WL 201608
...ade material misrepresentations to Mrs. Peirce about their financial situation resulting in damages in the amount of $19,899. Both parties appeal the judgment. THE PROMISSORY NOTE Nagel argues that paragraph 1 of the promissory note is controlled by section 673.1081(3), Florida Statutes (1993), that provides, "If an instrument, payable at a fixed date, is also payable upon demand made before the fixed date, the instrument is payable on demand until the *439 fixed date and, if demand for payment...
...3d DCA 1988) ("In order to qualify as a negotiable instrument a promissory note must contain an unconditional covenant to pay a certain sum in money."). Here the note does not provide a fixed principal amount. Hence, the note is not a negotiable instrument and section 673.1081(3) does not apply....
...COBB, J., concurs specially, with opinion. COBB, J., concurring specially. I concur in the result reached by the majority. As I see it, the note is not ambiguous and it is a demand note, the same as it would be if it had been negotiable and construed pursuant to section 673.1081(3), Florida Statutes (1993)....
CopyCited 4 times | Published | Florida 4th District Court of Appeal | 2012 WL 2328230, 2012 Fla. App. LEXIS 9944
...The Note also recites that it is due when certain property was sold. Defendants were impliedly obliged to sell that property but have failed to do so in a reasonable time. Written demand was mailed to appellants, but they did not repay their debt on the note. After a non-jury trial the court ruled that section 673.1081, Florida Statutes, governed the payment, making it due upon demand....
...hended the language of the note. Saadeh contends that appellants already stipulated to the fact that the note was a demand note and that its silence as to the payment date supports the notion that the entire amount of the note was payable on demand. Section 673.1081, Florida Statutes, provides that a note is “payable on demand” if it “[d]oes not state any time of payment.” § 673.1081(l)(b), Fla....
...promise or order is issued, subject to rights of prepayment, acceleration, extension at the option of the holder, or extension to a further definite time at the option of the maker or acceptor or automatically upon or after a specified act or event. § 673.1081(2), Fla....
CopyCited 3 times | Published | United States Bankruptcy Court, N.D. Florida | 8 Fla. L. Weekly Fed. B 289, 1994 Bankr. LEXIS 2105, 1994 WL 738829
...his case. Fla.Stat. §
95.031. Therefore, any claim based on this promissory note is likewise barred by the statute of limitations. *365 The third promissory note, which "[d]oes not state any time of payment," is "payable on demand" pursuant to F.S. §
673.1081....
...There is no evidence of any due date on these obligations, which are evidenced merely by copies of checks, wire transfers, and ledger annotations. The absence of a due date, however, does not invalidate an oral promise to pay money. See, e.g., Fla.Stat. § 673.1081 (absent due date, promise is "payable on demand")....
CopyCited 3 times | Published | Supreme Court of Florida | 2002 WL 716163
...Burbach Radio, Inc.,
377 So.2d 723, 724 (Fla. 4th DCA 1979). Under the UCC, however, a written note that is payable on demand or at the will of the holder and a loan that does not contain repayment terms are both considered "payable on demand." See §
673.1081, Fla....
CopyCited 2 times | Published | Court of Appeals for the Eleventh Circuit
...§
673.3081 (1). If the validity of a signature is denied, the burden of establishing the validity generally “is on the person claiming validity, but the signature is presumed to be authentic and authorized.” Id. (emphasis added). The effect of the §
673.1081(1) presumption is to require the party challenging the signature to produce evidence supporting a finding that the signature was forged or unauthorized....
