R. N. Kelly Cotton Merchant, Inc. v. York

Appellee is a cotton merchant who brought this diversity action to obtain specific performance of contracts for the *42sale of cotton by appellant cotton farmers. The contracts were executed in March, 1973, at a price fair at the time but much lower than that prevailing during the fall when delivery was due. The district court granted the relief sought, finding that by virtue of appel-lee’s own contractual commitments to textile mills, to deliver cotton at prices far below then-current market prices, appellee would suffer irreparable injury if appellants failed to perform.

Appellants’ principal…