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Contracts Keyed to Epstein
Apex LLC v. Sharing World, Inc.
Facts
Apex LLC (Plaintiff) entered into twelve contracts to unconditionally sell over 19,000 tons of cottonseed to Sharing World, Inc. (Defendant) over the course of about eleven months. Plaintiff was aware that after receipt, Defendant would sell the cottonseed to third parties and ship only after the third party sent Defendant a letter of credit. Defendant refused to accept nearly 15,000 tons of cottonseed because during the term of the contracts, the price of cottonseed dropped and the third parties stopped sending letters of credit to Defendant.
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