Nichols & Co. v. Columbus Credit Corp.

Plaintiff is a partnership engaged in business as a commodity broker on the New York Cotton Exchange. Between October 24, 1951, and February 28, 1952, defendant gave plaintiff various orders to buy and sell for defendant’s *849account a number of future contracts for wool and wool tops, the meaning of which is that defendant told plaintiff to make for defendant’s account agreements by which defendant agreed to buy wool and wool tops at future dates and other agreements by which defendant agreed to sell wool and wool tops at future dates. By giving such orders defendant impliedly agreed to perform…