- 5 - called Techno Sport Toboggan. Petitioner entered into the lease transaction under the entity name B.B.B., Ltd. Petitioner had a 30-percent interest in the lease. The lease required an initial payment of $15,000; petitioner's portion totaled $4,500. Petitioner executed a promissory note in the amount of $4,500 for his participation under the lease agreement. Also on December 20, 1983, petitioner entered into a Computer Program Employment Agreement (agreement) with ALA Enterprises, Inc. (ALA), providing for distribution of Techno Sport Toboggan. The agreement provided that ALA manufacture 500 copies of the video game for an advance payment of $3,900. Petitioner's share of that payment totaled $1,170. On December 23, 1983, petitioner entered into an equipment lease with Century for the lease of a master video called Monsoon. Petitioner entered into the lease transaction through the entity name BAYS Enterprises, Ltd. (BAYS). The lease required an initial payment of $15,000; petitioner's portion of that payment totaled $1,250. Petitioner executed a promissory note in the amount of $1,250 for his participation under the lease agreement. Also on December 23, 1983, petitioner entered into a Computer Program Employment Agreement (agreement) with ALA Enterprises, Inc. (ALA), providing for distribution of Monsoon. The terms are identical to those under the agreement covering Techno Sport Toboggan.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Next
Last modified: May 25, 2011