SABOUNDJIAN v. BANK AUDI


157 A.D.2d 278 (1990)

Vrej Saboundjian et al., Respondents, v. Bank Audi (USA), Appellant

Appellate Division of the Supreme Court of the State of New York, First Department.

May 22, 1990


Attorney(s) appearing for the Case

Joseph H. Einstein of counsel (Goodkind, Labaton & Rudoff, attorneys), for respondents.

Paul M. Brown of counsel (Whitman & Ransom, attorneys), for appellant.

MURPHY, P. J., ROSS, KASSAL and SMITH, JJ., concur.


SULLIVAN, J.

At issue is the extent of liability, if any, of a bank to its customer for failure to execute a foreign currency trade order when the customer unreasonably refuses to mitigate his damages. The basic facts are not in dispute.

Plaintiff Vrej Saboundjian, a sophisticated international businessman, well acquainted with the foreign exchange market, had become a customer of Bank Audi, the defendant...

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