Read the full judgment text of HCA 008662/1993 on BabelCite. This High Court CFI judgment was delivered on 26 October 1994.
1. This is a claim by the plaintiff against his broker, the defendant, for loss and damage arising from alleged unauthorised transactions carried out by the said broker in his account purportedly on his behalf. The plaintiff deposited an initial sum of $50,000 soon after he opened the margin trading account with the defendant on 12 August 1993. On the instruction of the plaintiff, 5 contracts of sterling were opened on his behalf in the selling position on 19 August 1993 at the rate of US$1.5103