Fed. Sec. L. Rep. P 92,790 Rayford Price and Barbara Ashley Price v. Drexel Burnham Lambert, Inc. And George Wilmot

GARZA, Circuit Judge:

On November 22, 1982, Rayford Price and Barbara Ashley Price (the “Prices”) established a brokerage account with Drex-el, Burnham Lambert, Inc. (“Drexel”). 1 At that time they signed a Customer’s Agreement that contained the following provision:

Sixteenth: Any controversy between you and the undersigned arising out of said account or relating to this contract or the breach thereof, shall be settled by arbitration, in accordance with the rules, then obtaining, of the American Arbitration Association, the New York Stock Exchange, Inc., the American Stock Exchange, Inc., or…