Iowa Premium Service Co. v. First National Bank’s Empirical Analysis
676 F.2d 1220 · 1982
Citation profile
3 federal appellate ·
Relationships
Relies on Barash v. Public Finance Corp. · Public Market Co. v. City of Portland · Belfance v. Bancohio/National Bank (In Re McCormick) · Ford Motor Credit Co. v. Ken Gardner Ford Sales, Inc. (In Re Ken Gardner Ford Sales, Inc.) · Weill v. Southern Credit Union (In Re Bowen)
Most-quoted passages
The sentences later courts lift from this opinion, ranked by how many decisions quote each — the parts of the opinion doing the work. These counts are smaller than the citation total above because most of the 8 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.
“There can be no doubt that IPSCO was not legally bound to pay interest when the note was executed; it had no obligation to pay interest until it used the money. IPSCO can be compared to a tenant who leases property; the tenant pays for the continued use of the property, not just for taking possession. Interest is simply rent for the use of money. IPSCO can also be compared to a customer of an electric utility. The customer agrees to pay for whatever electricity it uses, but the debt to the utility is not incurred until the resource is consumed. A customer does not incur a debt when it makes the original agreement with the utility. Likewise, IPSCO agreed to pay interest for the use it made of the money, but the debt was not incurred until IPSCO actually used the money.”
1 later decision quote this exact passage · from the dissent“We hold that regular installment payments on consumer debts, made within 90 days preceding the filing of a bankruptcy petition, may be avoided as preferential transfers to the extent the payments are credited to unsecured claims. The bankruptcy court must determine the value of collateral on a case-by-case basis to ascertain the extent of the preferences, in keeping with the bifurcation of debts into secured and unsecured claims under 11 U.S.C. § 506 (a). The exception for normal transactions in 11 U.S.C. § 547 (c)(2) extends only to situations where payment is made within 45 days after the debtor first becomes legally bound to pay. 5”
1 later decision quote this exact passage · from the majority“are coextensive. S.Rep. No. 989, 95th Cong., 2d Sess. 23, reprinted in 1978 U.S.Code Cong. & Ad.News 5787, 5809; H.R.Rep. No. 595, 95th Cong., 1st Sess. 310, reprinted in 1978 U.S.Code Cong. & Ad.News 5963, 6267 [hereinafter House Report]. These provisions leave unanswered the question of when the debt is”
1 later decision quote this exact passage · from the dissent
How this case has been treated — in progress
Whether each later court followed, distinguished, criticized, or overruled this decision. The treatment classification (task #35) runs highest-cited cases first and lights up here as it reaches this one.