James was born on the 25th of August 1940, in Wilkinsburg, Pennsylvania. He grew up just outside of Washington DC and graduated high school in Brandywine, Maryland. James enlisted in the Army National Guard after high school and joined the US Marine Corps in September of 1963. After completing Officer Candidate School and commissioning as a 2nd Lieutenant, James attended naval air basic training at Naval Air Station Pensacola, followed by The Basic School in Quantico. In 1965, he was the company commander of Company M, 3rd Battalion, 6th Marines, 2nd Marine Division, and deployed to the Dominican Republic to assist with the evacuation of 3,500 US citizens during the Dominican Civil War, also known as the April Revolution. James was then transferred to Camp Pendleton, California, with a replacement battalion set to deploy to the Republic of Vietnam, where he arrived in December of 1966. He was Captain when he was assigned to the 2nd Battalion, 5th Marines, 1st Marine Division, serving first as the Commanding Officer of Company H before taking charge of Company F. It was his actions on the 2nd of June 1967, that would cost him his life and earn him the Medal of Honor. The citation reads:

For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty. During Operation Union II, the 1st Battalion, 5th Marines, consisting of Companies A and D, with Capt. Graham's company attached, launched an attack against an enemy-occupied position with two companies assaulting and one in reserve. Company F, a leading company, was proceeding across a clear paddy area 1,000 meters wide, attacking toward the assigned objective, when it came under fire from mortars and small arms which immediately inflicted a large number of casualties. Hardest hit by the enemy fire was the 2d platoon of Company F, which was pinned down in the open paddy area by intense fire from two concealed machine guns. Forming an assault unit from members of his small company headquarters, Capt. Graham boldly led a fierce assault through the second platoon's position, forcing the enemy to abandon the first machine-gun position, thereby relieving some of the pressure on his second platoon, and enabling evacuation of the wounded to a more secure area. Resolute to silence the second machine gun, which continued its devastating fire, Capt. Graham's small force stood steadfast in its hard-won enclave. Subsequently, during the afternoon's fierce fighting, he suffered two minor wounds while personally accounting for an estimated 15 enemy killed. With the enemy position remaining invincible upon each attempt to withdraw to friendly lines, and although knowing that he had no chance of survival, he chose to remain with one man who could not be moved due to the seriousness of his wounds. The last radio transmission from Capt. Graham reported that he was being assaulted by a force of 25 enemy soldiers; he died while protecting himself and the wounded man he chose not to abandon. Capt. Graham's actions throughout the day were a series of heroic achievements. His outstanding courage, superb leadership, and indomitable fighting spirit undoubtedly saved the second platoon from annihilation and reflected great credit upon himself, the Marine Corps, and the U.S. Naval Service. He gallantly gave his life for his country.

James was 26 years old when he died and his family received his Medal of Honor from the Secretary of the Navy, Paul Ignatius, on the 29th of October 1968, at the Marine Corps Barracks in Washington DC. James Albert Graham is buried in Arlington National Cemetery: Section 13, Grave 8576-F. His name appears on the National Vietnam Veterans Memorial in Washington DC: Panel 21E, Line 46.