Judge calls Input Capital contracts ‘unconscionable’

[iceman]

Ah FUUUUYCK

Iceman's Remembrance Day is now May 18th

Please take a moment of silence to honour those Lonnies who made the ultimate sacrifice......................................... ........................RIP


Iceman stopping seeding beside every sign to look for bottles

[Richard5]

Interesting to know how many customers these characters have.

Will there be more court cases and land auctions?

How will iceman’s ownership in this company pay out?

Ya know, for $6 you can search for security registrations on ISC

I too would like to know if some of these very successful looking from the outside farms, annual flip whole fleet of equipment or take 1 year old equipment to auction are deep into input capital.

Even if they are they are only in deeper trouble if they now have to repay these debts, since no one was obviously willing to lend them money in the first place.

Plain old crooks running this thing, glad they are getting hands slapped. Emsley and Nysteun, king of the scumbag terms imo

[ajl]

One sided contract are now unfair well that basically includes virtually all contracts particularly grain company ones and landlord tenant contracts. Anytime one signs a contract without being part of the development of it, it will be one sided in favor of the writer. Apparently the judge fell off the turnip truck yesterday,

[farmaholic]

Who is stopping in at their booth at Farm Progress Show or Ag in Motion?

[sumdumguy]

How much input does anyone have in mortgage, lease, any kind of contract? How are banks any different? When you make a deal, you accept the terms of the contract. You sign it, you live with it. This case is going to set a interesting precedent. Say a young farmer who doesn’t have much, takes a farm loan to buy land and then suffers a few bad years, guess the lender has to back him or adjust the contract to assume the risk - INTERESTING. Takes us back to 1981.

[SASKFARMER3]

You guys would shit to realize who uses them. Some BTOs. Follow the money they win.

[biglentil]

Hmmm interesting verdict, is the farmer going to be able to come up with 4 million anyways?

Unconscionable contracts remind me of situations where there is a last minute Will change on the person's death bed.

[farmaholic]

I personally know no one who uses them. But I guess that could be expected when I don't soar with eagles but instead walk with turkeys.

[GDR]

I would never use them and figure they are basically a loan shark but if you are willing to sign their contract and take their money what right do you have to conplain and cry fowl afterwards. What a load of crap, no accountability anymore in our world. Everything from no actual grades in school, no scores for kids sports, most of the Me Too movement, big bad lender doing what they said they would do but you dont like it. Grow up and take responsibility for your actions its not always someone elses fault!

[GDR]

Also wasting tax dollars in the judicial system and taking up valuable court time that maybe could be used for putting criminals behind bars.