- 62 - Machise to conduct business for the period January 1 through December 31, 1984. Machise and the partnership assumed duties similar to those set forth in the earlier partnership agreements. The employees and independent contractors were the same employees and independent contractors who had provided their services to Machise before the MIT 84 employee leasing agreement was made. Bucci continued to direct and control the employees. He determined the amount of wages to be paid, did the hiring and firing, took any necessary disciplinary action, and set the hours to be worked. New independent contractor agreements were made containing the name "MIT 84" as one of the parties and signed by Fred Bryen as "partner" of MIT 84. These agreements imposed rights and responsibilities upon the contractor, the partnership, and the "carrier", which was Machise. For example, under the agreement, both the carrier and the contractor agreed to carry liability insurance. When the lease began, Bucci himself signed as "partnership agent". The investment program followed a familiar pattern. The 21 partners executed 12-percent notes, in amounts aggregating $3,035,000, to Qulart. The notes required annual payments of interest, with the principal and remaining interest due 11 years after the notes’ dates of execution. Qulart executed a similar note to Machise. This amount was equal to ten-elevenths of MIT 84's capital. Machise then lent Qulart $3,035,000 in a zeroPage: Previous 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 Next
Last modified: May 25, 2011