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Bolin Farms v. American Cotton Shippers: Difference between revisions
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|facts=In 1973, 11 cotton farms including Bolin Farms ("Bolin") entered [https://www.quimbee.com/keyterms/forward-sales-contract forward sales contract]s with cotton buyers including American Cotton Shippers Association ("American"). | |facts=In 1973, 11 cotton farms including Bolin Farms ("Bolin") entered [https://www.quimbee.com/keyterms/forward-sales-contract forward sales contract]s with cotton buyers including American Cotton Shippers Association ("American"). | ||
The forward contracts contained fixed prices for the purchase of cotton at the harvesting time. However, at the time of harvesting, the market price of cotton had unexpectedly doubled. | |||
Consequently, the farms regretted entering the forward contracts. | |||
|procedural_history=Bolin and other cotton farms filed suits against buyers (including American) seeking annulment of the forward contracts. | |||
|case_text_links={{Infobox Case Brief/Case Text Link | |case_text_links={{Infobox Case Brief/Case Text Link | ||
|link=https://law.justia.com/cases/federal/district-courts/FSupp/370/1353/1801385/ | |link=https://law.justia.com/cases/federal/district-courts/FSupp/370/1353/1801385/ | ||
Revision as of 13:43, August 12, 2023
| Bolin Farms v. American Cotton Shippers | |
| Court | Western District of Louisiana |
|---|---|
| Citation | 370 F.Supp. 1353 |
| Date decided | January 31, 1974 |
Facts
In 1973, 11 cotton farms including Bolin Farms ("Bolin") entered forward sales contracts with cotton buyers including American Cotton Shippers Association ("American").
The forward contracts contained fixed prices for the purchase of cotton at the harvesting time. However, at the time of harvesting, the market price of cotton had unexpectedly doubled.
Consequently, the farms regretted entering the forward contracts.Procedural History
Bolin and other cotton farms filed suits against buyers (including American) seeking annulment of the forward contracts.
