Legal Question in Business Law in Florida

Non-Compete Agreement

I was employed by a Mortgage Company 9 months ago who provided me with all of my training required to enter the mortgage industry. I had no previous knowledge of the industry.I have learned an incredible amount due to the company's training. Unfortunately, I reached the knowledge level to understand that my company overcharges clients therefore creating an ethical dilemna for myself. My business is based on developing long-term referrals from both realtors and previous clients but our pricing does not help this matter.The company philosophy is that strong sales techniques overcomes objection to price. I must state that I do not believe the company to be a predatory lender because they are not. However, they definitely overcharge clients by quite a bit. I am paid on 100% commission based on a 50/50 split. I resigned officially with a written letter and desire to work elsewhere. Every new employee of this company has to sign a Non-Compete agreement which i also signed. It states that i cannot work for another mortgage compnay for a period of 1 year and/or 100 miles. Is this enforceable? I want to work for an ethical company but am afraid of being sued.


Asked on 11/05/03, 3:39 pm

2 Answers from Attorneys
David Slater David P. Slater, Esq.

Re: Non-Compete Agreement

Unless their practice is illegal you are stuck. While 1 year is not unreasonable, 100 miles may be.

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Answered on 11/05/03, 4:12 pm
Peter Gonzalez Sanchez-Medina, Gonzalez, Quesada, Lage, Crespo, Gomez & MachadoLLP

Re: Non-Compete Agreement

I agree with Mr. Slater's response. Non-compete agreements are enforceable if they are reasonable under Florida law in scope in terms of time and geographic area. You may have a basis to nullify the non-compete agreement, but I would have to read it to give you my thoughts on that. If you are interested in a consultation, please call or write my office.

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Answered on 11/05/03, 5:29 pm


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