- 7 - In December 1982, the Myerses decided jointly to invest $19,950 in Jojoba.3 On or about December 12, 1982, Mr. Myers signed the offeree questionnaire, in which he indicated he did not intend to rely upon the advice of any other person, attorney, broker, or investment adviser in evaluating the merits and risks of the Jojoba investment. Mr. Myers also filled out a subscription agreement, a promissory note, and a limited guaranty agreement, each of which Mr. Myers and petitioner subsequently signed. The subscription agreement confirmed the Myerses’ agreement to purchase seven units in Jojoba for $19,950 and provided: 3. Subscriber hereby makes the following representations and appointment: (a) His offer to purchase is based solely upon information contained in the Partnership’s Private Placement Memorandum and on his own independent evaluation, which may include the counsel of his own advisors; (b) He has received a copy of the Partnership’s Private Placement Memorandum and the Agreement of Limited Partnership (“Partnership Agreement”) and hereby confirms that no representations, other than those contained in the Partnership Private Placement Memorandum, have been made by the General partners or by any agent or affiliate thereof; 3On Nov. 26, 1985, petitioner assigned her interest in Jojoba (all seven units) to the Dolores L. Myers or Successor as Trustee Trust. The notice of deficiency for 1985 and 1986, however, was issued to petitioner in her individual capacity, the petition was filed in her individual capacity, and neither party has alleged that we do not have jurisdiction.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011