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it up. In two instances, Mr. Sutton wrote checks to Mr. Palmer,
both dated January 15, 1988, and both in the amount of $5,000,
which Mr. Palmer negotiated in March and June of 1988.
Mr. Sutton wrote the following checks from the Suttons'
personal checking accounts which were endorsed by Mr. Palmer:
Date Payee Amount Negotiated
01-15-88 Charlie Palmer $5,000 03-10-88
01-15-88 Charlie Palmer 5,000 06-02-88
11-24-89 Cash 500 On or before 11-27-89
12-15-89 Cash 500 On or before 12-18-89
12-22-89 Cash 500 On or before 12-22-89
12-29-89 Cash 500 12-29-89
01-05-90 Cash 500 On or before 01-08-90
01-11-90 Cash 500 On or before 01-12-90
The Court is not persuaded that Mr. Palmer made any loans to Mr.
Sutton. See supra note 4.
Mrs. Sutton's father died on January 1, 1987. Mrs. Sutton
was the sole beneficiary of his estate (the estate) which had a
net value of $408,093.34. Mr. Sutton was the executor of the
estate.
Mrs. Sutton received four distributions from the estate's
checking account totaling $100,000 that she loaned to the
corporate petitioner. Of this amount, $90,000 was deposited in
the corporate petitioner's bank account during January of 1987.
Whether or when the remaining $10,000 was deposited is not shown
by the record. Mrs. Sutton received another $2,500 distribution
from the estate on March 31, 1987, which was deposited in the
corporate petitioner's checking account. Other distributions
from the estate were as follows; the date of distribution and
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