Clark v. Wallace County Cooperative Equity Exchange

Lewis, J.:

Ray C. Clark is a farmer. The Wallace County Cooperative Equity Exchange (Coop) operates, among other things, a grain elevator through which it buys and sells grain. In January 1995, Clark and Coop entered into a written agreement in which Clark agreed to sell Coop 4,000 bushels of com to be delivered after the crop was harvested. At the time the contract was made, there may have been corn planted somewhere in Kansas, but it would have been far short of maturity. In September 1995, there was a freeze in the area, which severely damaged the corn crop. As a result of this freeze,…