Florida Trading & Investment Co v. River Construction Services, Inc.

FRANK, Judge.

On June 5, 1985 the appellant, “Florida Trading,” the investor, and the appellees, the “Traders,” executed an agreement entitled “Joint Adventure Agreement” (JAA) designed to achieve a series of transactions involving the purchase of rough, uncut diamonds in Africa and their sale for at least a threefold profit in Amsterdam. The JAA contemplated the completion of four distinct transactions. Each transaction was divided into separate purchases and sales of diamonds. Florida Trading’s obligations were to supply funds, transportation and expenses and to provide an agent to handle…