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experience in breeding, showing, or selling horses. By the time
they began their horse activity, petitioners had acquired only
general experience in owning, caring for, and riding horses.
Petitioners have never taken any classes or attended any programs
regarding the financial or business aspects of horse breeding and
showing.
Petitioners chose the paso fino breed for their horse
activity for a variety of reasons. Petitioners admired paso
finos for their beauty and smooth-gaited ride. Petitioners also
decided that, because of their smooth ride, paso finos are good
for people, like Mr. McKeever, who have back problems. Prior to
starting their horse activity, petitioners did not research the
marketability of the paso fino breed or determine how they were
most likely to make money with paso fino horses. Petitioners did
not seek business advice prior to purchasing their first paso
fino horses.
In August 1987, petitioners purchased their first two paso
fino horses, Chispa Nuac and Sol Rey de Pito, from Dorothy
Sarnecky for a total of $15,000. During 1988, petitioners had
discussions with Ms. Sarnecky and Charles Minter which confirmed
petitioners’ perception that paso finos have an excellent
disposition and that they are marketable.
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