Jordan v. Bache & Co.

STOULIG, Judge.

By appeals in these consolidated cases,1 Branch M. Jordan seeks to discharge as invalid a $13,766 debt to his stockbroker, Bache & Co. Incorporated (Bache), incurred in trading in the commodities market. He contends that this is a gambling debt that is unenforceable under La.Const.1921 Art. 19, § 8.2

In May and June 1973 appellant instructed his broker John Roy of Bache to buy soybean futures. He ordered the May con*604tracts sold the same day he purchased them and held the June contracts for only two days. As the market fluctuated downward, Jordan lost $16,778 and subsequently…