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Home / Opinion Digests / Commercial – Good Faith Purchaser – Farm Tractors – Inadequate Consideration (access required)

Commercial – Good Faith Purchaser – Farm Tractors – Inadequate Consideration (access required)

Although the farm equipment dealer sold the farmer a tractor which cost the dealer $57,000 for a value of $40,000, including the farmer's trade-in, this alleged inadequate consideration does not preclude the farmer from being a good faith purchaser in the ordinary course of business under Va. Code § 8.1-201(9). The farmer did not initiate ...

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