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

Multiple Choice

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. After Ellen receives her determination from the arbitrators, James decides that the arbitrator was wrong in his understanding of the brokerage agreement. James decides to appeal the decision of the arbitrators. In this case:

A) he may not appeal the decision
B) only Ellen may appeal the decision
C) he may appeal to a court, but he is unlikely to win
D) he may appeal only to the New York Stock Exchange
E) none of the other choices