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Defendant Cola Performance Products, Inc. is at
this time, and was at all times relevant hereto, a fully
capitalized California corporation in good standing. Any
and all dealings between plaintiff and any of the
defendants were dealings between plaintiff and Cola
Performance Products, Inc. Defendants Dick Martin and
Raul Negrete were acting in their official capacities as
officers and directors of Cola Performance Products, Inc.
at all times relevant hereto, as was known to plaintiff
and its representatives. Therefore, defendants Martin
and Negrete, and each of them, have no liability to
plaintiff in this action.
During Richard's May 17, 1994, deposition, relating to the
Beta Maskin lawsuit, he stated: (1) He owned 100 shares of Cola,
Inc. stock; (2) Cola, Inc. held regular shareholders' and
directors' meetings; (3) Cola, Inc. owned property such as grinding
equipment, mills, lathes, and other equipment for manufacturing
race car crankshafts; (4) he lent money to Cola, Inc. on several
occasions (as recent as 2 weeks prior to his deposition); and (5)
the debt owed to Beta Maskin was only that of Cola, Inc.
Further, during his deposition, Richard answered the question:
"What information do you have that leads you to believe that Mr.
Lindstrom [the owner of Beta Maskin] and Beta Maskin dealt with
Cola Performance Products as a corporation as opposed to you and
Mr. Negrete as individuals?" by stating: "Mr. Lindstrom dealt with
Cola Performance Products, period. He didn't deal with us as
individuals under any conditions, never has. We don't operate that
way. We operate as a corporation."
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Last modified: May 25, 2011