Posted 8/7/2007 17:15 (#183961 - in reply to #183736) Subject: RE: A PRICE LATER CONTRACT
is treated the same as an unsecured loan. You give up the title to the grain when you enter the contract. If the company is going broke, you may recover pennies on the dollar after all the secured creditors are satisfied.
My father in law had beans contracted to a firm and he agreed to deliver in exchange for a certified bank check upon delivery. Needless to say the transaction was never consumated.
Ray J. or any qualified answer
