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ANSPACHER & ASSOCIATES, INC. v. HENDERSON

No. 86-2464.

854 F.2d 941 (1988)

ANSPACHER & ASSOCIATES, INC., a corporation, Plaintiff-Counter-Defendant-Appellant, v. Wayne HENDERSON, Individually, and d/b/a Electric Service Company, Defendant-Counter-Plaintiff-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided July 29, 1988.

Rehearing Decided August 30, 1988.

Attorney(s) appearing for the Case

Thomas M. Knepper, Neal, Gerber & Eisenberg, Chicago, Ill., for plaintiff-counter-defendant-appellant.

Thomas O. Kuhns, Kirkland & Ellis, Jeffrey D. Schultz, Ltd., Chicago, Ill., for defendant-counter-plaintiff-appellee.

Daniel S. Goodman, Washington, D.C., for amicus curiae Commodity Futures Trading Commission.

Before WOOD, Jr., POSNER and MANION, Circuit Judges.

MANION, Circuit Judge.

A commodities futures brokerage house sued a former customer under Illinois law to recover the balance due on the customer's futures trading account. The customer responded that the broker handling his account had engaged in unauthorized trading, and that the broker then ignored his protests, leading to compensable losses and the debit balance. The brokerage house replied that had the customer timely notified it directly of the unauthorized...

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