Legal Opinion
Southern Financial Group, LLC v. McFarland State Bank
Court of Appeals for the Seventh Circuit
Decided August 15, 2014No. 13-3378PublishedCited by 12 opinions
1Opinion of the Court
WOOD, Chief Judge.
When sophisticated parties are able to bargain, it is rarely unfair to hold them to their contract. Southern Financial Group (SFG), a Texas firm specializing in distressed-asset investing, bought a loan portfolio from McFarland State Bank (McFarland) at cents on the dollar. Both parties were well represented during negotiations over the sale. The Loan Sale Agreement provided limited remedies in the event of a breach and disclaimed all other remedies. McFarland breached because one of its representations about the status of the collateral was false. When notified about the…
2Cases cited14 opinions
- Central States, Southeast and Southwest Areas Pension Fund v. Burton SlotkyCourt of Appeals for the Seventh Circuit · 1992
- Am International, Incorporated v. Graphic Management Associates, IncorporatedCourt of Appeals for the Seventh Circuit · 1995
- Murray v. Holiday Rambler, Inc.Wisconsin Supreme Court · 1978
- Bourke v. Dun & Bradstreet Corp.Court of Appeals for the Seventh Circuit · 1998
- Beal v. General Motors CorporationDistrict Court, D. Delaware · 1973
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3Cited by12 opinions
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