River City Ranches #4 - Page 97

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               registration certificates.  * * *  The answer to the                   
               question is found by determining how many sheep were                   
               available to be purchased by RCR #4 in 1984.  If there                 
               were enough animals available for purchase, and the                    
               seller and buyer both acknowledge the transaction, and                 
               the partnership files a tax return reflecting the                      
               transaction, then errors on the Schedule A are not                     
               really significant.                                                    
                    The petitioners do not wish to minimize the fact                  
               that better care should have been taken to prepare                     
               correct and complete Schedule A's for attachment to the                
               bills of sale.  However, it is the bill of sale which                  
               effectuates the transaction, not the Schedule A.  Each                 
               bill of sale states a number of sheep purchased and                    
               these are generally reflected in the flock recap                       
               sheets.  * * *  The Respondent uses many pages of his                  
               brief attacking the Schedule A's and the Petitioners,                  
               acknowledging there are many errors, will not attempt                  
               to convince this Court that an obvious error is somehow                
               accurate.  However, this is not a concession that no                   
               entries in the Schedule A's are accurate.                              
                    The parties have stipulated that 3,176 of the                     
               approximately 10,000 animals sold to the partnerships                  
               are found in both the registration certificates and the                
               Schedule A's.  * * *  Further, the 1,248 matches that                  
               Respondent calls duplicates are duplicates because they                
               are reflected on more than one Schedule A.  * * *                      
               These animals could clearly have been sold to one                      
               partnership, repossessed and resold to another                         
               partnership.  These 1,248 so-called duplicates should                  
               be considered matches by the Court.  * * *  The                        
               respondent would prefer to impugn [sic] criminal                       
               behavior to the Petitioners before the Respondent would                
               admit the obvious.  * * *  there is nothing underhanded                
               in the Schedule A's.  There is just a sloppy job of                    
               data entry.  The Respondent wishes to focus on the                     
               Schedule A's.  There is good reason to do so (from                     
               Respondent's perspective) for to focus on the                          
               registration certificates can only lead to one                         
               conclusion--there were plenty of animals for each                      
               partnership to purchase.                                               
                    Before leaving this discussion of Schedule A's,                   
               the Petitioners would like to ask the Court to consider                
               a couple of questions.  If a rancher wishes to buy a                   
               registered animal from one of the partnerships, would                  

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Last modified: May 25, 2011