Landmark Development, Inc. v. City of Roy

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• “[NJothing in PACA or the regulations prohibits PACA trustees, from attempting to turn receivables into cash by factoring. To the contrary a commercially reasonable sale of accounts for fair value is entirely consistent with the trustee’s primary duty.”
• “[GJeneral trust principles [apply] to questions involving the PACA trust, unless those principles directly conflict with PACA.”
• “[G]eneral trust principles [apply] to questions involving the PACA trust, unless those principles directly conflict with PACA.”
• “Whether a transferee of trust assets is a bona fide purchaser becomes relevant only as a defense after it has been determined that a breach of trust has occurred.”
• “[A] factoring discount of 20% was never shown to be commercially unreasonable”

Source: CourtListener parenthetical corpus (CC0).