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today we turn to one of two introductory cases where promise errs who entered into seemingly valid contracts attempt to avoid liability for not following through on their promises todayamp;#39;s case Bolin farms versus American cotton shippers association involves a futures contract for the sale of cotton in the first few months of 1973 11 cotton farmers in western Louisiana among them Bolin farms signed contracts with American cotton shippers to sell cotton grown on their farms at harvest time that year those contracts locked in prices of between 29 and 41 cents per pound while the market price of cotton at that time ranged between 28 and 32 cents per pound but commodity markets can change quite rapidly by the time the farmers were harvesting their cotton in September cotton prices had more than doubled to around 80 cents per pound the deals they had gotten before of up to 41 cents per pound no longer seemed so good and the so the farmers sued for quote a declaration that the contrac