James W. Bonar and Beverly J. Bonar v. Dean Witter Reynolds, Inc., John S. Mc Nally, Jr., Ed Leavenworth
Court of Appeals for the Eleventh Circuit
1Opinion of the Court
KRAVITCH, Circuit Judge:
Arbitrators of a dispute between the Bo-nars and Dean Witter Reynolds awarded punitive as well as compensatory damages to the Bonars. Dean Witter claims that the district court abused its discretion in refusing to vacate the award of punitive damages because (1) it was obtained through fraud; (2) the arbitrators lacked authority to award punitive damages; (8) the appellees contractually waived any right they may have had to punitive damages; and (4) the punitive damages award was so irrational as to be an abuse of the arbitrators’ discretion. Concluding that the…
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