Vesta State Bank v. Independent State Bank of Minnesota

OPINION

GARDEBRING, Justice.

This case involves a lawsuit brought by a lessor of agricultural equipment against parties involved in the development of the lease, after default by the lessee. We are asked to decide whether the purchase of an agricultural combine, along with the lessor’s interest in the accompanying lease, is the sale of goods or the provision of services. We conclude that this transaction is a sale of goods; therefore, the Uniform Commercial Code’s (U.C.C.) four-year statute of limitations governs the claim. We reverse the court of appeals’ decision to the contrary. In addition,…