A cattle producer must file a claim with the Packers and Stockyards Administration within 60 days after the date of the transaction on which the claim is based. Under the Packers and Stockyards Act, the date of the transaction on which the claim is based includes the date payment is due. Appellants Marlyn and Rhonda Hansen challenge summary judgment in favor of respondents Jerry and Susan Sutton and Tom Krantz whereby the district court determined that respondents' claim was timely filed with the Packers and Stockyards Administration. The Hansens were guarantors of the letter of credit that provided funds for the trust agreement against which respondents made a claim. The Hansens contend respondents' claim was untimely because it was filed more than 60 days after the date of the transaction on which the claim was based.
Respondents argue that the issue of the timeliness of the claim is moot.
Facts In 1991, Robert Dekker went into the business of buying and selling cattle. Marlyn Hansen provided financing to Dekker and received a percentage of his business profits. Federal law requires cattle dealers, such as Dekker, to obtain a bond or bond equivalent to assure cattle producers that they will be paid. Hansen and his wife secured a line of credit from the bank to fund cattle purchases. In August 1993, in separate contracts, Susan and Jerry Sutton and Richard Krantz agreed to sell cattle to Dekker, and he made down payments.