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1985 656,293
1986 1,128,384
1987 1,332,803
1988 1,955,474
1989 1,909,743
1990 2,382,294
Activities of Vineyards and Winery
Dealings between Vineyards and Unrelated Buyers
From 1981 through 1990, Vineyards sold grapes to unrelated
buyers, and the sales were made at market value. During 1981,
Vineyards sold all of its grapes to unrelated buyers. During
certain of the years from 1981 through 1990, long-term agreements
with certain buyers for Vineyards' grapes that had been made by
the previous owners of its vineyards were continued and new
agreements were made. Certain written agreements for the sale of
grapes, whether long term or otherwise, were on the purchaser's
letterhead, while others were on Winery's letterhead. The
agreements on Winery's letterhead generally called for payment of
one half of the amount due 30 days after delivery and the balance
on January 10 of the year following the year of delivery. The
contracts written on purchasers' letterheads provided similar
payment terms. Vineyards sent invoices to buyers on Winery
letterhead. Mr. Venge executed some of Vineyards' grape purchase
agreements on behalf of Mr. Groth.
Vineyards charged and collected interest on the unpaid
balances due from unrelated purchasers. Those buyers generally
paid Vineyards for grapes within 6 months of harvest, which
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Last modified: May 25, 2011