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MERRILL LYNCH, PIERCE, ETC. v. SCHRIVER

541 S.W.2d 799 (1976)

MERRILL LYNCH, PIERCE, FENNER & SMITH, INCORPORATED, Appellee, v. Tom M. SCHRIVER, Appellant.

Court of Appeals of Tennessee, Western Section.

Certiorari Denied October 4, 1976.

Attorney(s) appearing for the Case

Frank B. Bird, Bird, Navratil & Bird, Maryville, for appellant.

Robert R. Campbell, Hodges, Doughty & Carson, Knoxville, for appellee.

Certiorari Denied by Supreme Court October 4, 1976.

MATHERNE, Judge.

The issue at bar is whether, under Tennessee law, a futures contract made through the Chicago Mercantile Exchange constitutes an illegal gaming transaction.

I.

The defendant Schriver, through the plaintiff Merrill Lynch, Pierce, Fenner & Smith, Incorporated, entered into certain sell order agreements for 42 carloads (contracts of 36,000 pounds each) of February, 1975...

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