KRAMER V. CARIBBEAN MILLS, INC.
394 U.S. 823 (1969)
NATURE OF THE CASE: This was a dispute over diversity of citizenship.
FACTS: Caribbean (D) agreed to buy stock from Panama with a down payment of $85,000 and
$165,000 in twelve installments. The purchase was made but D did not make the installment
payments. Panama then assigned its interest in the payments to Kramer (P) for $1 who then
promised to pay Panama 95% of any net recovery. P sued D in diversity in Texas and D moved
for dismissal for want of jurisdiction. The jury gave P the verdict and D appealed. The
Court of Appeals reversed. The Supreme Court granted certiorari.
ISSUE:
RULE OF LAW:
HOLDING AND DECISION:
LEGAL ANALYSIS:
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