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In 1985 both petitioner and Mr. Abelein signed three
separate subscription agreements for series A, B, and C units in
the Timeshare Breeding Service 1985-1 Ltd., also known as Durham
Genetics Engineering 1985-1 Ltd. (hereinafter DGE), partnership.
Mr. Abelein asked petitioner to sign the necessary subscription
agreements to invest and become partners in the Hoyt partnership.
Mr. Abelein did not threaten petitioner to induce her to sign the
Hoyt agreements. Each subscription agreement stated that the
parties’ signatures evidenced their intent to subscribe to the
units and to enter into a partnership agreement, and the
subscription agreement for series A units also granted Mr. Hoyt a
power of attorney over partnership matters. Mr. Hoyt signed the
partnership agreement as attorney in fact for petitioner and Mr.
Abelein.
On all three subscription agreements for DGE, Mr. Abelein
signed on the line for “subscriber” to the investment. On the
DGE subscription agreements for series B and C units, petitioner
signed on the line for “Signature of Spouse Subscriber if
purchase is made jointly”. On the series A agreement, a
checkmark was placed on the line next to “community property”, an
ownership option which only required one signature. Petitioner
nevertheless signed on the line indicated for “Signature of
Spouse” on the series “A” agreement. This agreement also
contained the following language: “The UNDERSIGNED: * * *
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Last modified: May 25, 2011