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acquire in all of his property, whether tangible or intangible,
real, personal, or mixed.
United Ready Mixed Hauling Contract and Subsequent Litigation
In June 1986, petitioner entered into a 5-year contract to
haul cement, rock, and sand (hauling contract) for United Ready
Mixed Concrete Co., Inc., and its affiliates (United Ready Mixed)
on an exclusive basis. The hauling contract contemplated that
Pyramid, as a PUC-licensed hauler, would do the actual hauling.
Petitioner and Pyramid rented office space, purchased or rented
additional trucks and other equipment, and hired and trained new
employees to meet the requirements of the hauling contract.
Petitioner and Pyramid performed hauling services for United
Ready Mixed beginning in June 1986. Later in 1986, United Ready
Mixed refused to allow further performance of the hauling
contract, refused to pay for hauling services previously
received, and terminated the hauling contract.
In 1987, petitioner and Pyramid filed suit against United
Ready Mixed for unpaid receivables and for breach of the hauling
contract (among other things). Judgment was entered in favor of
petitioner and Pyramid in May 1992. In July 1992, there was a
settlement agreement whereby United Ready Mixed agreed to pay
petitioner and Pyramid $782,500 plus interest. Under the terms
of the settlement agreement, United Ready Mixed was required to
make payment by check or wire transfer payable to a trust account
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