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State court fraud decision influenced by economics of US peanut industry

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  • David R. Kamerschen

    (Terry College of Business, 536 Brooks Hall, University of Georgia, Athens, GA 30602-6254)

Abstract

This paper describes the economics of the peanut industry in the Southeast and Georgia to understand the 1993 trial Golden v. Hunt where the jury awarded a Georgia peanut farmer, Hunt, $260,000 in damages for fraudulent behavior by the largest peanut buyer in the market, Golden Peanut Company, in the sale of his 1990 peanut crop. While this case was not a federal or state antitrust case, the issue of market power was relevant to determine the potential to practice frauds and tortious interference successfully. It would appear that the viability of contract markets for agricultural products depends on the ability to enforce those contracts at the level where this case was adjudicated. © 1998 John Wiley & Sons, Inc.

Suggested Citation

  • David R. Kamerschen, 1998. "State court fraud decision influenced by economics of US peanut industry," Agribusiness, John Wiley & Sons, Ltd., vol. 14(1), pages 55-62.
    • Handle: RePEc:wly:agribz:v:14:y:1998:i:1:p:55-62
    DOI: 10.1002/(SICI)1520-6297(199801/02)14:1<55::AID-AGR5>3.0.CO;2-K
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    References listed on IDEAS

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    1. Dalton, James A & Penn, David W, 1976. "The Concentration-Profitability Relationship: Is There a Critical Concentration Ratio?," Journal of Industrial Economics, Wiley Blackwell, vol. 25(2), pages 133-142, December.
    2. Meehan, James W, Jr & Duchesneau, Thomas D, 1973. "The Critical Level of Concentration: An Empirical Analysis," Journal of Industrial Economics, Wiley Blackwell, vol. 22(1), pages 21-36, September.
    3. Kwoka, John E, Jr, 1979. "The Effect of Market Share Distribution on Industry Performance," The Review of Economics and Statistics, MIT Press, vol. 61(1), pages 101-109, February.
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    Cited by:

    1. Revoredo-Giha, Cesar & Fletcher, Stanley M., 2003. "Does The Existence Of Market Power Affect Marketing Loan Programs?," 2003 Annual meeting, July 27-30, Montreal, Canada 22241, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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