If you are unable to see this message, click here to view it in a web browser.

Justia Weekly Opinion Summaries

Commercial Law
April 24, 2020

Table of Contents

MidWestOne Bank v. Heartland Co-op

Banking, Commercial Law, Contracts

Iowa Supreme Court

COVID-19 Updates: Law & Legal Resources Related to Coronavirus

Click here to remove Verdict from subsequent Justia newsletter(s).

New on Verdict

Legal Analysis and Commentary

Rethinking Retroactivity in Light of the Supreme Court’s Jury Unanimity Requirement

MICHAEL C. DORF

verdict post

In light of the U.S. Supreme Court’s decision Monday in Ramos v. Louisiana, in which it held that the federal Constitution forbids states from convicting defendants except by a unanimous jury, Cornell law professor Michael C. Dorf discusses the Court’s jurisprudence on retroactivity. Dorf highlights some costs and benefits of retroactivity and argues that the Court’s refusal to issue advisory opinions limits its ability to resolve retroactivity questions in a way that responds to all the relevant considerations.

Read More

Commercial Law Opinions

MidWestOne Bank v. Heartland Co-op

Court: Iowa Supreme Court

Docket: 19-1302

Opinion Date: April 17, 2020

Judge: Thomas D. Waterman

Areas of Law: Banking, Commercial Law, Contracts

In this dispute between a secured lender (Bank) and a grain elevator (Elevator) the Supreme Court reversed in part the district court's judgment in favor of the Bank, holding that the district court erred by applying the discovery rule but otherwise did not err. The Bank filed this civil action alleging damages for drying and storage charges withheld in a three-year period. The Bank asserted that the Elevator had a junior interest to the Bank's prior perfected security interests. The Elevator asserted affirmative defenses of, among other things, failure to state a claim and unjust enrichment. The district court granted the Bank's motion for summary judgment and denied the Elevator's motion for summary judgment. The Supreme Court affirmed in part and reversed in part, holding that the district court (1) correctly applied the two-year limitation period in Iowa Code 614.1(10), which barred the Bank's claims filed more than two years from the date of sale of goods subject to its perfected security interest; (2) erred by applying the discovery rule allowing the Bank to recover on transactions that occurred more than two years before it filed its civil action; and (3) correctly ruled that the Bank's prior perfected security interest trumped the Elevator's claim for storage and drying costs.

Read Opinion

Are you a lawyer? Annotate this case.

About Justia Opinion Summaries

Justia Weekly Opinion Summaries is a free service, with 63 different newsletters, each covering a different practice area.

Justia also provides 68 daily jurisdictional newsletters, covering every federal appellate court and the highest courts of all US states.

All daily and weekly Justia newsletters are free. Subscribe or modify your newsletter subscription preferences at daily.justia.com.

You may freely redistribute this email in whole.

About Justia

Justia is an online platform that provides the community with open access to the law, legal information, and lawyers.

Justia

Contact Us| Privacy Policy

Unsubscribe From This Newsletter

or
unsubscribe from all Justia newsletters immediately here.

Facebook Twitter LinkedIn Justia

Justia | 1380 Pear Ave #2B, Mountain View, CA 94043