Bonny v. Society of Lloyd's

3 F.3d 156 (1993)

From our private database of 46,000+ case briefs, written and edited by humans—never with AI.

Bonny v. Society of Lloyd’s

United States Court of Appeals for the Seventh Circuit
3 F.3d 156 (1993)

Facts

The Society of Lloyd’s (Lloyd’s) (defendant), which was located in England, was a market somewhat similar to the New York Stock Exchange. Agents of Lloyd’s met with Kenneth Bonny, Francesca Bonny, and Robert Flevig (plaintiffs) in Illinois to discuss investing in Lloyd’s. The Bonnys and Flevig traveled to England and signed a contract entitled General Undertaking for Membership. The agreement contained forum-selection and choice-of-law clauses. Another agreement was signed, stating that all disputes would be arbitrated in England under English law. After suffering large losses, the Bonnys and Flevig sued Lloyd’s, alleging that Lloyd’s had failed to disclose material facts and risk factors as required by the Securities Act of 1933, 15 U.S.C. § 77a et seq., and the Securities Exchange Act of 1934, 15 U.S.C. § 78a et seq. The district court dismissed the claim based on the forum-selection and arbitration clauses that designated England as the forum for litigation. The plaintiffs appealed.

Rule of Law

Issue

Holding and Reasoning (Lay, J.)

What to do next…

  1. Unlock this case brief with a free (no-commitment) trial membership of Quimbee.

    You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 742,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.

    Unlock this case briefRead our student testimonials
  2. Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.

    Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students.

    Learn about our approachRead more about Quimbee

Here's why 742,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 46,000 briefs, keyed to 986 casebooks. Top-notch customer support.
  • The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
  • Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
  • Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.

Access this case brief for FREE

With a 7-day free trial membership
Here's why 742,000 law students have relied on our case briefs:
  • Reliable - written by law professors and practitioners, not other law students
  • The right length and amount of information - includes the facts, issue, rule of law, holding and reasoning, and any concurrences and dissents
  • Access in your class - works on your mobile and tablet
  • 46,000 briefs - keyed to 986 casebooks
  • Uniform format for every case brief
  • Written in plain English - not in legalese and not just repeating the court's language
  • Massive library of related video lessons - and practice questions
  • Top-notch customer support

Access this case brief for FREE

With a 7-day free trial membership