Estate of Morton B. Harper, Deceased, Michael A. Harper, Executor - Page 31

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          Here Michael did not even hire Mr. Blankstein until after                   
          decedent’s death, strengthening the inference that the partners             
          had little concern for establishing any precise demarcation                 
          between partnership and other funds during decedent’s life.                 
               Closely related to the delay in opening the partnership bank           
          account and consequent commingling of income is the delay in                
          formally transferring the underlying portfolio assets to HFLP.              
          No attempt was made to begin the process of title transfer until            
          July 26, 1994, when decedent executed an allonge endorsement                
          assigning the Marsh note to HFLP.  No action was taken with                 
          respect to any of the other securities until September 29 and 30,           
          1994, when letters addressing transfer of the M.L. Stern & Co.,             
          Putnam, and Franklin accounts were drafted and an account with              
          M.L. Stern & Co. was opened on behalf of HFLP.  A letter                    
          requesting transfer of the Rockefeller Center Properties stock              
          was not prepared until November 22, 1994.                                   
               When Michael was asked on cross-examination to explain this            
          delay between the effective date of the partnership and the                 
          formal transfer of assets into the entity, he replied:  “Probably           
          for different reasons, some mechanical delays and who we’re                 
          dealing with, but generally, there was no rush to do it.  We were           
          just doing it in an orderly fashion.”  Next, in response to a               
          further question asking why there was no rush, he continued:                
          “There was no rush.  I mean, we were just handling the business             

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