Iowa Premium Service Co. v. First National Bank’s Empirical Analysis
695 F.2d 1109 · 1982
Citation profile
19 federal appellate · 11 district · 1 state decisions
How this case has been cited
Cited by 104 later decisions (1 by the Supreme Court) — most recently March 2016 · most notably Union Bank v. Wolas (1991), Waldschmidt v. Ranier (1989)
19 federal appellate · 11 district · 1 state decisions
Later decisions citing this case, by decade. The current decade is in progress, and our corpus holds fewer opinions from the most recent years, so the latest bars are undercounted — not a real decline.
Relationships
Applies 11 U.S.C. § 101 (Bankruptcy Abuse Prevention and Consumer Protection Act of 2005) · 11 U.S.C. § 365
Relies on Barash v. Public Finance Corp. · Belfance v. Bancohio/National Bank (In Re McCormick) · Carmack v. Zell (In Re Mindy's, Inc.) · Ford Motor Credit Co. v. Ken Gardner Ford Sales, Inc. (In Re Ken Gardner Ford Sales, Inc.)
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 104 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.
“(A) in payment of a debt incurred in the ordinary course of business or financial affairs of the debtor and the transferee; (B) made not later than 45 days after such debt was incurred; (C) made in the ordinary course of business or financial affairs of the debtor and the transferee; and (D) made according to ordinary business terms.”
19 later decisions quote this exact passage · from the dissent“A debt is incurred `on the date upon which the debtor first becomes legally bound to pay.'”
5 later decisions quote this exact passage“Cases interpreting § 547(c)(2) hold that a debt is incurred on the date upon which the debtor first becomes legally bound to pay, a conclusion with which we agree. There can be no doubt that IPSCO [the debtor] 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. (Emphasis added). (Citations and footnotes omitted).”
2 later decisions quote this exact passage
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.