Wells Fargo Business Credit v. Ben Kozloff, Inc.

JOHN R. BROWN, Circuit Judge:

Wells Fargo Business Credit (Wells Fargo), a commercial lending institution, brought suit to recover payment of amounts wrongfully offset in breach of a no-offset agreement with Ben Kozloff, Inc. (Kozloff), for the accounts of Williamson Companies, Inc. (Williamson). Because we find that Greg Williamson was not an agent for Wells Fargo to receive a rescission of the no-offset agreement and that Wells Fargo did not waive the agreement, we reverse.

Fish Story

Williamson and defendant Kozloff were both frozen seafood broker-wholesalers. Williamson bought seafood from…