A&M Farm Center Inc. v. AGCO Finance LLC
Supreme Court of Indiana
921 N.E.2d 54 (2010)
In Indiana, a principal is bound by a contract entered into by the principal’s agent on his behalf only if the agent had actual, apparent, or inherent authority to bind him.
Relevant Facts
A&M Farm Center Inc. (A&M) (defendant), managed by Dennis Leek, entered into full recourse leasing agreements with AGCO Finance LLC (AGCO) (plaintiff). Leek started Cable Tech Inc. (Cable Tech), which defaulted on the agreements, prompting AGCO to seek payment from A&M. A&M argued that Leek lacked authority to bind A&M in these agreements.
Issue
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Holding & Reasoning
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Concurrence
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Dissent
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Last updated:
December 8, 2023
Judicial Opinion
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Procedural History
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Citations
921 N.E.2d 54 (2010)