Kohlmeyer & Co. v. Bowen

Eberhardt, Presiding Judge.

Kohlmeyer & Company, a dealer in securities, brought suit against James Bowen, alleging that on March 20, 1970, Bowen telephoned Kohlmeyer and inquired about the purchase of tax-exempt bonds for his account, as a result of which Bowen orally agreed to purchase $80,000 face amount of Atlanta Airport revenue bonds due January 1993, and bearing interest at 714% per annum, on a basis to yield 7.15% when, as, and if the bonds were issued. On the same date Kohlmeyer transmitted to Bowen a "when issued” confirmation and statement of the transaction; and, on April 21, when…