Estate of Edward Brockenbrough, Deceased, Sharon Brockenbrough, and Suntrust Bank, Coexecutors, and Sharon Brockenbrough - Page 12

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          spectator insurance, a forklift to load and unload bucking                  
          chutes, lighting, water for livestock, sewage and water,                    
          electricity, tickets and people to handle tickets, restrooms,               
          spectator seating, concession stands, a tractor and disk to work            
          the arena, and an ambulance.  4 L provided animals and personnel            
          for the events.                                                             
               Petitioners hired Cotton Young (Young) to produce their                
          second rodeo, which was held on May 1 and 2, 1992.  Petitioners             
          paid Young about $16,000.  Petitioners' responsibilities were               
          essentially the same as for the first rodeo.                                
               Mr. Brockenbrough and Bumgarner produced petitioners’ third            
          rodeo, which was held in the fall of 1992.  They produced the               
          rodeo themselves in an attempt to minimize expenses and generate            
          a profit.  They used their horses and cattle and rented a few               
          steers for that rodeo.                                                      
               Cashion saw petitioners' stud, Sam Skyles, while he attended           
          one of petitioners' rodeos.  He decided to breed Sam Skyles to              
          one of his mares.                                                           
               Petitioners used the same accountant and checking account              
          for their rodeo and horse undertakings.                                     
               3.   Bumgarner's Dismissal                                             
               By the time they held the third rodeo, petitioners concluded           
          that Bumgarner had been using petitioners' facilities, feed, and            
          stud horses without paying petitioners, selling cattle without              
          giving petitioners the proceeds, and using two of his uninsured             




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