Salomon Forex, Inc. v. Tauber

8 F.3d 966 (1993)

From our private database of 46,300+ case briefs, written and edited by humans—never with AI.

Salomon Forex, Inc. v. Tauber

United States Court of Appeals for the Fourth Circuit
8 F.3d 966 (1993)

Facts

Dr. Lazlo Tauber (defendant), a sophisticated individual investor, negotiated thousands of transactions involving the sales of foreign currency futures with Salomon Forex, Inc. (Salomon) (plaintiff). Tauber bought and sold foreign currency with different firms, seeking to buy low and sell high. Actual currency was delivered only in four transactions. When Tauber’s holdings lost value, Salomon asked Tauber to cover the loss. Tauber did not do so. The futures contracts ultimately came due. Salomon sued Tauber for $26 million in debt not covered by the value of his collateral. Tauber argued that he was not responsible for the debt because his contracts with Salomon violated the Commodities Exchange Act (CEA). Salomon brought suit. The district court ruled in Salomon’s favor, and Tauber appealed.

Rule of Law

Issue

Holding and Reasoning (Niemeyer, 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 815,000 law students since 2011. Some law schools even subscribe directly to Quimbee for all their law students.

  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.

Here's why 815,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 46,300 briefs, keyed to 988 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 815,000 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
  • 46,300 briefs - keyed to 988 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