Fact Pattern 3-2
Ellen contracts with James to be her stockbroker, making stock trades for Ellen's account. Ellen need not pre-approve the trades that James makes, only trades for more than $20,000. Ellen and James include a clause stating "that in case of any disputes arising out of this contract; the dispute shall be arbitrated using the rules of the New York Stock Exchange."
Ellen learns that since signing her contract with James, he has routinely been making trades worth more than $20,000 without her permission, and losing money.
-Refer to Fact Pattern 3-2. Assume that Ellen sees James' unauthorized actions as the basis for a legal dispute. If she arbitrates, what must she do first?
A) file a complaint
B) file an answer
C) file a submission
D) file a reverter
E) file a rejoinder

Question

Quizplus · Accepted Answer

If Ellen wishes to arbitrate the dispute, she must first file a submission, which is a written document that outlines the issues in dispute and presents evidence supporting her position.

Fact Pattern 3-2 Ellen Contracts with James to Be Her Stockbroker, Making Stock