Скачать или смотреть The Potential Peril Associated With Deferred Payment Contracts; Recent Court Decisions of Interest

Roger McEowen, interviewed by Greg Akagi, Kansas AG Network / 580 WIBW, December 13, 2021.

00:25 - A recent news story involving a group of farmers in Mississippi reveals the potential downside of selling grain under a deferred payment contract. Unless a farmer-seller takes steps to gain protection, the farmer is an unsecured creditor of the buyer after delivery is made and before payment is made. If the buyer files bankruptcy in that interim period, the farmer-seller will be a general unsecured creditor and could lose out on the vast amount of income anticipated from the sale.
More information: https://lawprofessors.typepad.com/agr...

12:12 - Farmer’s Marijuana and Firearm Conviction Upheld - After receiving a complaint that the defendant was growing cannabis on his property, state police officers investigated the property and found a large crop of cannabis plants, growing equipment, hundreds of pounds of processed cannabis with levels of THC meeting the standard for a controlled substance. The defendant had a past criminal history and unauthorized firearms were also found in his possession.

14:32 - Rerouting of Irrigation Ditches Not a Taking - A ministry owned a forty-acre parcel of land, which included a church camp, located within the boundaries of a national refuge. The United States Fish and Wildlife Service's protection plan included filling in irrigation ditches to return spring waters back to their historic paths. As a result of this plan, the ministry’s church camp was washed away in a series of floods caused by heavy rainfall.

16:23 - Farmers Detrimentally Relied on Crop Supply Salesman to Check Crops - The plaintiff corporation is a tenant farmer. Over a period of at least 25 years, a close friend would check the corporation’s crops for stinkbugs.

17:41 - No Deduction For Excess Rent – Bad Valuation - The petitioner, a drug store in a rural town in northeast Montana, claimed rent deduction for the main floor of the building it rented.

More information on recent court decisions of interest: https://lawprofessors.typepad.com/agr...

Roger McEowen is the Professor of Agricultural Law and Taxation at Washburn University School of Law in Topeka, Kansas. From Kansas AG Network / 580 WIBW, Ag-Issues Program, December 13, 2021; uploaded with permission.