Soybeans (X) wheat (clear) ( ) Other ( )
In consideration of the mutual promises contained herein: Jim Aron (hereafter called SELLER) hereby sells to PANOLA-QUITMAN GRAIN CORPORATION, Batesville, Mississippi (hereafter called BUYER) and BUYER agrees to purchase from SELLER 7,000 bushels of soybeans( ), wheat ( ), other ( ), subject to quanity [sic] adjustment under the Soybean ( ), Wheat ( ), Other ( ) Weight Discount Schedule established and/or in use by the BUYER and in effect for the current season. SELLER agrees to deliver such soybeans ( ), wheat ( ), other ( ) to the BUYER at PANOLA-QUITMAN GRAIN CORPORATION during the calendar month of Oct. Nov., 1978.
At time of delivery BUYER agrees to pay SELLER the price of $6.03 per bushel of adjusted weight delivered as established by use of said soybean ( ), wheat ( ), other ( ) Weight Discount Schedule, less 20% per bushel to be retained by the BUYER until such time as delivery of the soybeans ( ), wheat ( ), other ( ) hereby sold are delivered to BUYER.
If soybeans ( ), wheat ( ), other ( ) are tendered under this contract which have moisture in excess of 17% BUYER, at BUYER'S option, may refuse to accept delivery of soybeans ( ), wheat ( ), other ( ) for application against fulfillment of this contract.
LIABILITY FOR NON-DELIVERY
Time is of the essence and if SELLER fails or refuses to make timely delivery of the soybeans ( ), wheat ( ), other ( ) herein sold, or any portion thereof, SELLER agrees to pay BUYER as damages for such default, as to all beans or other grains remaining undelivered, the difference between the selling price agreed on above and the cash price which BUYER is offering for soybeans or other grains to which this contract is made on the last working day of the BUYER of the calendar month in which delivery is contracted to be made.
It is agreed tha [sic] the BUYER had recourse for satisfaction of any damages on any assets owned by the SELLER.
Garlic or onions in wheat will not be allowed to fill this contract, if it is made for wheat.
Leinholder [sic] Yes ( ) No ( ) If yes, give name:
Accepted this 13 day of April, 1978.
SELLER: /s/ JIM E. ARON BUYER: PANOLA-QUITMAN GRAIN CORPORATION
BY: ___________________ BY: /s/ David Colson ...