New West Fruit Corporation (New West) and Coastal Berry Corporation are both brokers of fresh strawberries. In
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New West requested that Coastal Berry either pay New West the amounts owed by the growers or allow New West to market the berries to recover the money. Coastal Berry did not respond. After Coastal Berry began marketing the berries, New West sent letters demanding payment of the proceeds. In August 2011, New West filed suit against Coastal Berry, La Paz, the individual growers, and a berry freezing company that its security interest was valid and that it had duly notified Coastal Berry both through the financing statement on file and through the letters it had sent to Coastal Berry directly. Coastal Berry claimed that the security agreement was not effective because it did not specifically identify the debt (money and plants) being secured. Discuss.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
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