United States v. Kimbell Foods, Inc.
Supreme Court of the United States
1Opinion of the CourtJustice Marshall
We granted certiorari in these cases to determine whether contractual liens arising from certain federal loan programs take precedence over private liens, in the absence of a federal statute setting priorities. To resolve this question, we must decide first whether federal or state law governs the controversies; and second, if federal law applies, whether this Court should fashion a uniform priority rule or incorporate state commercial law. We conclude that the source of law is federal, but that a national rule is unnecessary to protect the federal interests underlying the loan programs.…
2Cases cited51 opinions
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- Clearfield Trust Co. v. United StatesSupreme Court of the United States · 1943
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