Saboundjian v. Bank Audi (USA)
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
*280OPINION OF THE COURT
Sullivan, J.
At issue is the extent of liability, if any, of a bank to its customer for failure to execute a foreign currency trade order when the customer unreasonably refuses to mitigate his damages. The basic facts are not in dispute.
Plaintiff Vrej Saboundjian, a sophisticated international businessman, well acquainted with the foreign exchange market, had become a customer of Bank Audi, the defendant, in June 1984, and, on or about April 10, 1986, began to speculate in foreign currency through the bank, which set a $5,000,000 limit on his total trading position, with a…
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