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WINTERS GOVERNMENT SECURITIES CORPORATION v. FIRST NATIONAL BANK OF BRECKENRIDGE

No. 80-1309.

636 F.2d 230 (1980)

WINTERS GOVERNMENT SECURITIES CORPORATION, a Florida Corporation, Appellant, v. FIRST NATIONAL BANK OF BRECKENRIDGE, a National Banking Association, and H. Robert Hertzenberg, Individually, Appellees.

United States Court of Appeals, Eighth Circuit.

Decided December 22, 1980.

Attorney(s) appearing for the Case

Nolan P. Chipman, Paul, Landy, Beiley & Harper, Miami, Fla., Jeremiah J. Kearney, O'Connor & Hannan, Minneapolis, Minn., for appellant, Winters Government Securities Corp.

Samuel L. Hanson, Briggs & Morgan, Minneapolis, Minn., for appellee First Nat. Bank of Breckenridge.

Before LAY, Chief Judge, ROSS and McMILLIAN, Circuit Judges.

PER CURIAM.

Winters Government Securities Corporation, plaintiff, alleged in its complaint that defendant First National Bank of Breckenridge contracted to purchase four Government National Mortgage Association (GNMA) futures from plaintiff and then refused to accept delivery of them. First National answered that a salesman employed by the plaintiff had traded on the bank's account without its authorization and contrary to its specific instructions to the salesman...

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