Farming equipment manufactured today has more software than ever before. The increased sophistication of this equipment has benefitted the agricultural industry in significant ways. For example, the integration of newer technologies into agricultural implements has resulted in measurable gains in productivity, yields, and revenue. However, the increasing sophistication of technology is not without drawbacks. As...

This article is intended to be a “refresher” on how lenders can avoid conversion claims in connection with certain jointly payable negotiable instruments. Certain types of negotiable instruments (e.g., jointly payable checks) can benefit lenders, as demonstrated in the hypothetical below, but these instruments can also cause a lender problems if these instruments are not...

Anumber of recent economic developments will likely impact the negotiation of farmland leases following the 2022 crop year. For example, landlords may want to increase rent because commodity prices are generally rising, and farmland values are going up across the Midwest. On the other hand, tenants may be reluctant to pay more rent because many...

Over the last two years, the world has grappled with the COVID-19 pandemic. In an effort to address the economic crisis following the arrival of COVID-19, the United States took a number of significant actions, including, among other things, infusing cash into the national economy, generally, and the agricultural industry, in particular. The introduction of...

At some point in their careers, most lenders who finance borrowers with real estate collateral will see at least some of their borrowers go through a real estate foreclosure. Depending upon the nature of the real estate foreclosed upon—and the State where the foreclosure is taking place—a lender must usually be mindful of applicable “redemption...

When a prospective borrower approaches a lender and requests financing for any consumer purpose or business operation, the lender must evaluate whether or not the borrower has sufficient capacity to repay the loan. Two options will often come to mind for most lenders. First, the lender may require more than one individual or entity to...