Florida District Courts of Appeal, 1982

Ocean Divers, Inc. v. Keys Lobster, Inc.

Florida District Courts of Appeal · Decided December 7, 1982 · Baskin, Daniel, Ferguson, Pearson

422 So. 2d 1088; 1982 Fla. App. LEXIS 21800 (Southern Reporter, Second Series)

Cases that cite this one

1 later published case cites this decision.

Keys Lobster v. Ocean Divers (Fla. Dist. Ct. App. 1985)

This list shows which later cases cite this one. It does not say how they treated it, and no review of that has been done. Not a substitute for Shepard’s or KeyCite — verify before relying.

Opinion of the Court

PER CURIAM.

The conclusions of the trial court that Keys Lobster, Inc. acted reasonably and in good faith in disapproving the credit of Ocean Divers, Inc. and that, therefore, Ocean Divers’ failure to obtain credit approval, a necessary condition precedent to the exercise of its option to-purchase certain property owned by Keys Lobster, freed Keys Lobster to sell the property to another, are amply supported by the trial court’s findings, inter alia, that Ocean Divers had insufficient assets or cash flow either to make the required down payment, or realistically to assure that the ten-year purchase *1089money note would be paid, and that even if the financial condition of the principals of Ocean Divers were arguably sound, no evidence documenting this soundness was given to Keys Lobster, and, more important, no commitment to guarantee personally the corporate obligation was timely made by these principals. Since these findings, in turn, are amply supported by the evidence, we affirm the judgment below.

Affirmed.

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