Fact Pattern 3-2 Ellen Contracts with James to Be Her Stockbroker, Making Stock

question 59

Multiple Choice

Fact Pattern 3-2
Ellen contracts with James to be her stockbroker, making stock trades for Ellen's account. Ellen need not pre-approve the trades that James makes, only trades for more than $20,000. Ellen and James include a clause stating "that in case of any disputes arising out of this contract; the dispute shall be arbitrated using the rules of the New York Stock Exchange."
Ellen learns that since signing her contract with James, he has routinely been making trades worth more than $20,000 without her permission, and losing money.
-Refer to Fact Pattern 3-2. After presenting her evidence at arbitration, Ellen is quite happy when they decide that, in fact, James has violated his contractual obligations to her, and owes her damages. Any damages that Ellen wins are known as:

• A) an award
• B) a judgment
• C) an exaction
• D) a presentation
• E) a collection

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Definitions:

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