by David Chapman
Staff Writer
One of the biggest detriments to the economy in recent years was on display in mock trial fashion Friday at Florida Coastal School of Law.
While the individual case was a simulation, thousands more actual cases persist across the country.
A group of financial industry and real estate workers, law students and attorneys experienced the trial proceedings of a contested foreclosure, courtesy of the host school’s mock trial team.
It was hosted by the Jimerson & Wilson law firm and the First Coast Chapter of the Risk Management Association.
“A lot of the different parties involved in such contested cases never get to see what it’s like in the courtroom,” said Charles Jimerson, a shareholder of Jimerson & Wilson.
“Hopefully, they were able to learn something from this experience,” he said.
“Foreclosures are such a significant issue facing this economy.”
Attendees witnessed the case of “MajorBank” filing suit against homeowner John De La Quint (pronounced Delinquent) for his alleged lack of payment of his home loan.
Circuit Judge Virginia Norton volunteered to hear both parties in the first such mock trial at the school, although Jimerson said he hopes the trial can be become an annual event.
The plaintiffs, MajorBank, tried to prove four points: there was a legally binding contract, MajorBank was the lender provider, De La Quint broke the contract and that because of his actions, the bank suffered damages.
The defense countered the case had numerous Truth in Lending Act violations and the contract between the parties should be considered void.
Each side was given one witness.
The plaintiffs called upon the vice president of the home mortgage company who oversaw the legally binding paperwork for the contract. She testified the paperwork was standard and was not out of line with other such deals.
The defense called upon De La Quint himself, who told of numerous potential Truth in Lending violations involving everything from “teaser rates” to failure of the mortgage companies leaving copies of signed paperwork.
After hearing both sides for almost three hours, Norton wrapped up the mock trial by not rendering a verdict for either party. It was just an educational exercise.
Norton said she was impressed by the caliber of work by the students who put on the trial.
356-2466