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was generally unconcerned with formalities and sought to do
business without the aid of lawyers. Ms. Jackson’s father had
substantial experience in road construction, including paving,
grading, and related matters. Cities was used to obtain minority
and women's set-aside contracts. Ms. Jackson, her father, and
petitioner joined together to perform on the contracts obtained
through Cities. Ms. Jackson was the operating officer, her
father was in charge of construction, and petitioner was
responsible for providing funding. Although petitioner was not
involved in the daily operations of Cities and its activities, he
was involved in the decision-making process and advanced money on
numerous occasions during 1986 and 1987.
As of June 6, 1986, petitioner had advanced $12,000. Ms.
Jackson drafted a promissory note that she believed petitioner
could enforce. By July 15, 1986, petitioner had advanced
$167,500, which Ms. Jackson memorialized in what she believed to
be a valid, enforceable promissory note.
On July 15, 1986, petitioner and Ms. Jackson executed a
lease-purchase agreement for certain heavy equipment, including:
Trucks, a backhoe and excavator, an air compressor, and other
equipment. The machinery was for use by Cities in the Century
project. The terms of the lease provided for 6 monthly
installments of $16,250, with the first payment to petitioner to
begin at the commencement of the progress payments to Cities on
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