Narrative Opinion Summary
Florida Zippo, Inc. appeals a partial summary judgment of foreclosure, which is affirmed. The court reiterates that only a debtor has the authority to grant a lender the power to accelerate a debt, referencing Morse v. City Federal Savings and Loan Association. Furthermore, acceleration of the debt occurs only when the lender's option is exercised effectively, as established in David v. Sun Federal Savings and Loan Association. The court's decision is upheld.
Legal Issues Addressed
Authority to Grant Lender Power to Accelerate Debtsubscribe to see similar legal issues
Application: The court affirms that only a debtor has the authority to grant a lender the power to accelerate a debt.
Reasoning: The court reiterates that only a debtor has the authority to grant a lender the power to accelerate a debt, referencing Morse v. City Federal Savings and Loan Association.
Effective Exercise of Lender's Option to Accelerate Debtsubscribe to see similar legal issues
Application: The court highlights that the acceleration of the debt occurs only when the lender's option is exercised effectively.
Reasoning: Furthermore, acceleration of the debt occurs only when the lender's option is exercised effectively, as established in David v. Sun Federal Savings and Loan Association.