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that King Lion won during 1990, placing second at the Hamptons
Classic, King Lion won no prize moneys during the years in issue.
Mr. Abbene kept no formal ledger of King Lion's winnings. The
remaining horses were generally shown for ribbons only. Country
Girl, Toast of the Town, Meadow Silk Spirit, and Spectacular
Rhythm, however, were not shown during the years in issue. Magic
Moment was injured and had to be destroyed during 1991.10
Blue Ribbon used Country Girl, Toast of the Town, and Meadow
Silk Spirt for riding lessons. During the years in issue, Elena
provided, on behalf of Blue Ribbon, riding lessons to four
individuals, some of whom went on to successfully compete. Blue
Ribbon charged $30 for a half-hour lesson and $50 for an hour
lesson. Mr. Abbene maintained neither a log of the riding
lessons given by Elena nor a formal ledger of the income derived
from the provision of riding lessons during the years in issue.
9(...continued)
stipulated that King Lion was the only horse shown for prize
moneys. Consistent with the stipulation of facts, respondent
requested the Court to find that King Lion was the only horse
shown for prize moneys during the years in issue. As petitioners
made no objection to the requested finding of fact, we shall
treat the stipulation of facts as a conclusive admission by the
parties. Rule 91(e).
10 The record does not disclose the year in which Magic Moment
suffered injury.
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