Donald L. Chiappetti and Mary K. Chiappetti - Page 13

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          accurately valued at $76,000, CPC, and not petitioner, must have            
          promised not to compete.  Petitioners' contention that the cov-             
          enant not to compete had little or no value flies in the face of            
          the parties' stipulation that "the $76,000 value placed upon the            
          covenant not to compete in the purchase contract was an accurate            
          value of the covenant."  On the present record, petitioners have            
          failed to show why they should be relieved of that stipulation.             
          See Rule 91(e).  As for their contention that petitioner's inten-           
          tion to retire and his actual retirement at the time the purchase           
          contract was executed would have made any agreement by him not to           
          compete of little or no value, petitioners have failed to prove             
          that petitioner was certain that he wanted to retire or that he             
          would remain retired.  In fact, the option to repurchase con-               
          tained in the purchase contract recited that petitioner was "not            
          * * * entirely sure" that he wanted to retire.  Petitioner also             
          testified that it was his son, Donald C. Chiappetti, who insisted           
          that petitioner execute the covenant not to compete in his in-              
          dividual capacity, presumably because of his son's concern about            
          future competition from his father.  Based on the instant record,           
          we have no basis for finding that the covenant not to compete,              
          which by its terms binds only petitioner, and not CPC, should               
          have been valued at some amount other than the $76,000 that                 
          petitioner, CPC, and Donald C. Chiappetti allocated to it in the            







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