Neas v. Tennessee Burley Tobacco Growers' Ass'n

The appellants here, Tennessee Burley Tobacco Growers’ Association, hereinafter called Association, was the agent for the years 1946 through 1950, and some other years thereafter, of that Federal Agency known as the Commodity Credit Corporation. This Federal Agency provided funds for the purpose of assuring farmers an adequate price for their tobacco by means of a non-recourse loan to each farmer on his crop equal to 90% of a fixed price called “parity”. It was the business of this agency, the Association, by means of consignment, to take possession of, and sell, these crops thereafter at a…