First options of chicago inc petitioner v manuel kaplan et ux and mk investments inc on writ of certiorari to the united states court of appeals for the third circuit may 22 1995 justice breyer delivered the opinion of the court. The arbitrability of the kaplan first options dispute was subject to independent review by the courts pp 942 947 a the answer to the narrow question whether the arbitrators or the courts have the primary power to decide whether the parties agreed to arbitrate a disputes merits is fairly simple first options of chicago inc v kaplan . First options of chicago inc v kaplan 514 us 938 1995 was a case decided by the supreme court of the united states on who decides whether a dispute is subject to arbitration the courts or an arbitrator. first options of chicago inc v kaplan us 1995 3 pet for cert i second the court of appeals stated that it would review a district courts denial of a motion to vacate a commercial arbitration award and the correlative grant of a motion to confirm it de novo 19 f3d at 1509. Facts of the case after the october 1987 stock market crash first options of chicago inc a firm that clears stock trades on the philadelphia stock exchange demanded that manuel kaplan his wife and his wholly owned investment company mk investments inc mki immediately pay the entire mki debt
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