Zinn v. Parrish case brief

Zinn v. Parrish case brief summary
644 F.2d 360 (1981)

CASE SYNOPSIS

Appellant sought review from a judgment of the United States District Court for the Northern District of Illinois, Eastern Division, in favor of appellee in an action to recover amounts and interest owed under a contract pursuant to Ill. Rev. Stat., ch. 72 § 2.

CASE FACTS
Appellant agent brought suit against appellee player to recover amounts owed under a contract pursuant to Ill. Rev. Stat., ch. 72 § 2. The district court found in favor of appellee holding that appellant's failure to register as an investment adviser under the Investment Advisers Act of 1940, 15 U.S.C.S. §§ 80b-1 et seq. (the 1940 Act), voided the contract and he had failed to perform his obligations under the contract.

DISCUSSION

• On review the court found that the activities of appellant did not place him under the requirements of the 1940 Act. 
• The court further found that appellant had reasonably and in good faith performed his duties under the contract. 
• The court also found that appellee had terminated his relationship with appellant after appellant negotiated a large contract in breach of the contract. 
• Accordingly, the court reversed the judgment and remanded for calculation of damages and interest.

CONCLUSION

The judgment in favor of appellee was reversed. The court remanded for further proceedings consistent with the opinion including the calculation of damages and interest.

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