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During August 1979, HJI acquired a 640-acre parcel of
partially developed land in Hyder, Arizona, and began farm
development. A small planting of jojoba undertaken in the fall
of 1979 failed. Extensive planting of jojoba plants began in the
spring of 1980. HJI had planted 400 acres of jojoba by the fall
of 1980. Planting of the remaining 240 acres was completed in
1981 with the help of financing provided by Hyder Jojoba Partners
(HJP), a farming partnership. HJI was the general partner of
HJP, provided farm management services to HJP, and leased land to
HJP.
3. Joseph E. Berberich
Joseph E. Berberich (Berberich) is a partner in the law firm
of Manning, Leaver, Bruder, and Berberich, located in Los
Angeles, California. He is involved primarily in a commercial
and business practice of law. His law firm was not directly
involved in the transactions in issue in the instant cases.
Berberich became interested in jojoba in 1979 after reading
in World Market Perspective, an industrial newsletter, an article
entitled "Jojoba, Super Bean of the Future". Berberich began
reading more about jojoba and decided to invest in jojoba with
three of his friends who shared an interest in such a project.
He traveled with those friends to a number of jojoba plantations
located in Southern California and in Arizona. Berberich also
read a number of private offering memoranda relating to
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