DK Joint Venture 1, et al. v. Weyand, et al.

Defendants appealed from a district court's order confirming an arbitration award where plaintiffs, six business entities, claimed to have been defrauded by defendants. At issue was whether the arbitration panel had exceeded its jurisdiction by rendering an award against defendants because they had never consented to arbitration. The court reversed the district court's order because under ordinary principles of contract and agency law, defendants, as the CEO and CFO of the defendant corporations, were not personally bound by the arbitration agreements their corporations entered into. Therefore, the court held that the arbitration panel lacked jurisdiction to render an award against defendants. View "DK Joint Venture 1, et al. v. Weyand, et al." on Justia Law