Posted November 18, 2011
Arbitration, Statute Of Limitations, Contracts
Second DCA Holds That Arbitration Claims Are Not Civil Actions Or Proceedings For Purposes Of Section 95.011, Florida Statutes (2005), And Florida Statutes Of Limitations Are Not Applicable To Arbitration Where The Arbitration Agreement Does Not Expressly Provide For Their Application
Raymond James Financial Svcs., Inc. v. Phillips
36 FLW D2479a (Fla. 2nd DCA, Nov. 16, 2011)
Where the contract entered into between the investment firm and the account holders did not specifically incorporate the Florida Statute or rules, the court concluded that the statute of limitations found in Florida statutes did not apply, because arbitration proceedings are not "civil actions or proceedings" to which §95.011 applies. Question certified to Florida Supreme Court:
DOES SECTION 95.011, FLORIDA STATUTES, APPLY TO ARBITRATION WHEN THE PARTIES HAVE NOT EXPRESSLY INCLUDED A PROVISION IN THEIR ARBITRATION AGREEMENT STATING THAT IT IS APPLICABLE?
Click on the link below to read the Opinion filed November 16, 2011:
Raymond James Financial Services, Inc. v. Phillips
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