International Casings Group, Inc. v. Premium Standard Farms, Inc.

International Casings Group (ICG) (plaintiff) and Premium Standard Farms (PSF) (defendant), which sold hog casings to two ICG facilities, negotiated for nearly two years and reached agreement on the essential terms of a new three-year output contract, after which both companies began performing under those terms — though the agreement was never reduced to writing or signed. PSF never objected to the agreed price once performance began, but later notified ICG it would not honor that price and intended to terminate the relationship. ICG sued and moved for a preliminary injunction, and PSF argued no contract existed absent a meeting of the minds on price and a signed writing.