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Thoner were each to have a 50-percent interest in profits and
losses of the joint venture. Thoner thought of Parker, rather
than Bradish, as his partner in the joint venture. Parker had
told Thoner that his children had some interest in the deal
Parker and Thoner were negotiating.
By a writing dated January 8, 1980, directed to Betty (the
January 8 writing), Bradish described certain aspects of his
participation in the potential joint venture between Thoner and
Parker (the potential joint venture). The text of the January 8
writing was dictated by Bradish to Mrs. Bradish in the presence
of Parker and Mrs. Betty Parker. In full, the January 8 writing
is as follows:
Dear Betty Parker:
This is to confirm that J. Robert Bradish holds in
trust for Tracey [sic] Parker and Terry Parker 80% of
the 50% Venture interest (i.e. 40% of the Venture)
which is being negotiated between Jack Thoner and
J. Robert Bradish.
In the event J. Robert Bradish dies prior to
termination of the Venture, the trustee will be Larry
Parker or a person selected by him.
The trust and J. Robert Bradish are obligated to pay
Larry Parker a $2,500,000.00 fee upon successful
conclusion of his negotiations with Jack Thoner. The
fee is paid as follows:
1. The net cash proceeds upon close of escrow
from J. Robert Bradish to the Venture.
2. Balance, if any, from the first proceeds due
J. Robert Bradish and the trust.
Sincerely,
Consented to and approved:
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