Ocean View Towers, Inc. v. First Fidelity Sav. and Loan Ass'n
| Decision Date | 09 March 1988 |
| Docket Number | No. 87-0127,87-0127 |
| Citation | 13 Fla. L. Weekly 649,521 So.2d 325 |
| Parties | 13 Fla. L. Weekly 649 OCEAN VIEW TOWERS, INC., Appellant, v. FIRST FIDELITY SAVINGS AND LOAN ASSOCIATION, Appellee. |
| Court | Florida District Court of Appeals |
Michael W. Moskowitz and Monica I. Salis of Borkson, Simon & Moskowitz, P.A., Fort Lauderdale, for appellant.
Christopher K. Kay and James A. Burt of Swann and Haddock, P.A., Orlando, for appellee.
Appellant, Ocean View Towers, Inc. (Ocean View), appeals from a judgment of foreclosure of a mortgage securing a $3.6 million dollar loan entered in favor of First Fidelity Savings and Loan Association (Fidelity). Ocean View contends that the mortgage was part of a complicated and unusual program negotiated with Mr. Carl Guffin of Fidelity involving two loans: one for $13 million and the one in question for $3.6 million. The $13 million loan was successfully paid off; however, Ocean View defaulted on the $3.6 million loan. Ocean View alleges that the default was the result of Fidelity's failure to honor an oral agreement entered into with Carl Guffin prior to his departure from Fidelity which involved the creation of an interest reserve for the $3.6 million loan.
There is substantial conflict in the testimony regarding the interest reserve. However, there is no documentation either in letters or memos reflecting any agreement for the creation of an interest reserve.
In Blue Lakes Apartments, Ltd. v. George Gowing, Inc., 464 So.2d 705 (Fla. 4th DCA 1985), this court held that a court of appeal must disregard conflicting evidence and accept facts in evidence which are most favorable to the party that prevailed below. Further, the appellate court is not to substitute its judgment for that of the trial court as long as there is sufficient competent evidence to support its decision. See Diversified Commercial Developers v. Formrite, Inc., 450 So.2d 533 (Fla. 4th DCA 1984).
It is well settled that a trial court's discretion is abused when the judicial action taken is arbitrary, fanciful or unreasonable. Roberto v. Allstate Insurance Company, 457 So.2d 1148 (Fla. 3d DCA 1984). Judicial discretion does not mean that
a court may act, or fail to act, according to the mere whim or caprice of the presiding judge, but it means a discretion exercised within the limits of the applicable principles of law and equity, and the exercise of which, if clearly arbitrary, unreasonable, or unjust, when tested in the light of such principles, amounting to an abuse of such discretion, may be set aside on appeal.
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