Reaves Brokerage Co. v. Sunbelt Fruit & Vegetable Co.

How courts have described this case

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

• explaining that certain language in contract at issue referring to “sell[ing]” accounts and defining a “purchase” price was “characteristic of a sale of accounts” without recourse instead of a sale with recourse
• A secured lending agreement under which a lender holds a borrower’s accounts receivable as collateral is not a transfer for value.
• PACA beneficiaries’ “claims prime those of other secured and unsecured creditors for the full amount of the claim”
• “Consequently, unpaid sellers are not able to recover trust proceeds conveyed to a third party if that third party received the proceed ‘for value’ and ‘without notice of the breach of trust.’ ”
• “General principles of trust law govern PACA trusts.”

Source: CourtListener parenthetical corpus (CC0).