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NEWTON v. OVERSEAS PRIVATE INV. CORP.

No. 87-2783.

544 So.2d 224 (1989)

John R. NEWTON, Jr., Appellant, v. OVERSEAS PRIVATE INVESTMENT CORP., Appellee.

District Court of Appeal of Florida, Third District.

Rehearing Denied June 28, 1989.

Attorney(s) appearing for the Case

Robert N. Reynolds, Miami, and Robert E. Goldman, for appellant.

Hodgson, Russ, Andrews, Woods & Goodyear and Lawrence F. Beyer, Boca Raton, for appellee.

Before SCHWARTZ, C.J., and NESBITT and FERGUSON, JJ.

FERGUSON, Judge.

In 1985, Cat-Ketch Corporation, Ltd., a Cayman Island's boat-building firm, principally located in Honduras, executed and delivered a promissory note in the amount of $407,000 to OPIC, a public company organized under United States law to provide loans to businesses in developing nations. John R. Newton, Jr., president of Cat-Ketch, by a sponsor agreement, personally and unconditionally guaranteed payments due under the OPIC loan. When Cat-Ketch and...

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