Fisch v. W. Banks

In this action the parties have stipulated to waive a jury trial and to the making by the court of a determination on an agreed statement of facts.

Plaintiff is an attorney. Defendants are members of the New York Stock Exchange, in business for over 40 years, and duly registered with the Securities and Exchange Commission. On February 13,1964, plaintiff opened accounts with defendants for the purpose of buying and selling securities; and on February 28, 1964, he signed a lending or margin agreement, the pertinent provisions of which read as follows:

“Any and all securities * * * now or…