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AMERICAN INS. CO. v. CAZORT

No. 93-934.

871 S.W.2d 575 (1994)

316 Ark. 314

The AMERICAN INSURANCE COMPANY, NAP Financial Corporation, and Mark J. Berman, Appellants, v. Lee CAZORT, Jr., Appellee.

Supreme Court of Arkansas.

March 14, 1994.

Attorney(s) appearing for the Case

Phil Campbell, Thomas B. Staley, Hilburn, Calhoon, Harper, Pruniski & Calhoun, Ltd., No. Little Rock, for appellants.

Mark W. Nichols, H. Gregory Campbell, Nichols, Wolff & Ledbetter, Little Rock, for appellee.

DUDLEY, Justice.

Lee Cazort, Jr., appellee, a resident of Arkansas, opened a securities brokerage account with Marc Berman, a resident of Florida who was an employee of MJB Associates, Inc., a Florida corporation. The account was opened through NAP Financial Corporation, a Texas corporation which has its principal place of business in California. Cazort signed an asset management agreement with Berman and MJB, a letter of transmittal with NAP, and an asset management...

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