Day v. Ray E. Friedman & Co.

On Application for Rehearing

The application for rehearing is granted; the original opinion in this cause is withdrawn and the following opinion is substituted therefor.

Defendant below appeals from a summary judgment rendered in favor of the plaintiff on its complaint and from a summary judgment which dismissed defendant's counterclaim. We affirm in part, reverse in part, and remand.

Plaintiff Ray E. Friedman Company was, on the dates material to this action, an Illinois corporation, properly licensed by all relevant federal authorities to conduct the business of a commodities broker. In early…