Peter S. Pau and Susanna H. Pau - Page 5

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          than Sanrio, signed the agreement so that the seller would not              
          learn that in fact Sanrio was the real buyer.                               
               Sanrio expected to pay a commission to petitioner after it             
          purchased the Eccles Avenue property, because he had acted as its           
               Petitioner expressed some concern after the deal shifted               
          from development to purchase as to how he would be remunerated              
          for his work for Sanrio.  On June 12, 1990 (before he signed the            
          purchase agreement), petitioner sent a letter to Sanrio detailing           
          his negotiations for Sanrio's purchase of the property.  As of              
          that date, petitioner expected to receive $840,000 (representing            
          3 percent of the purchase price) from Sanrio upon its purchase of           
          the property.  Additionally, while petitioner worked for Sanrio             
          to buy the property, he had incurred expenses for inspectors and            
          engineers.  In September of 1990, Sanrio reimbursed him for his             
          out-of-pocket expenses.  On October 30, 1990, Sanrio paid                   
          $840,000 to petitioners in consideration of the assignment of               
          petitioner's rights d.b.a. Sand Hill as purchaser of the Eccles             
               The payment was made as follows:  on October 30, 1990, at              
          Susanna's request, Sanrio directed the Bank of California to                
          debit its account there by $840,000 and remit the sum by                    
          electronic funds transfer to the account of Susanna Pau at the              
          Banque Nationale de Paris (BNP) branch located in San Francisco,            
          California (the BNP account).  On that same date, Susanna                   

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