Fortner v. Merrill Lynch, Pierce, Fenner & Smith, Inc.

VANCE, Justice.

This is an appeal from a judgment for fraud rendered in favor of appellee, Merrill Lynch, Pierce, Fenner & Smith, Inc. (Merrill Lynch) against appellant James D. Fort-ner. Merrill Lynch, acting as Fortner’s broker, made a margin call on Fortner in connection with a series of commodity futures transactions. Fortner gave Merrill Lynch a check for $68,000 to cover the margin call, which was subsequently returned for insufficient funds. Merrill Lynch then liquidated Fortner’s positions in the commodities markets, with a net loss to Merrill Lynch of $60,933. Fortner executed a…