Transcription of 2015 CGFA Annual Convention
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2015 CGFA Annual Convention
2015 cgfa Annual ConventionThe Monterey Plaza Hotel and Spa MontereyIdentifying and Managing Counterparty RiskTodd P. LangelFaegre Baker Daniels LLPA pril 23, 2015 Identifying and Managing Counterparty RiskOverview Commodity contract formation and enforcement primer Merchant Farmer/user purchases and sales Merchant Merchant transactions Sorting through the fine print Battle of the Forms Identifying Default Failure to deliver or take delivery during contract windowRepudiation breach before performance is due Cancellation and Determination of Damages Arbitration or Litigation2 Contract formation General Concepts UCC 2-204(1)A contract for sale of goods may be made in any manner sufficient to show agreement, including conduct by both parties which recognizes the existence of such a contract.
Confirmation of an Oral Agreement – NGFA Grain Trade Rules The NGFA Grain Trade Rules state the proper procedure for the entry into an oral agreement
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