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in Melissa’s career, she would not further share in any profits
of Melissa’s or Cool G Records’. When the Court pressed
petitioner as to whether and to what extent, if any, she expected
to share in any profits generated by Melissa and Cool G Records
once she had been fully reimbursed for her expenses, petitioner
stated that that is a matter she “would have to renegotiate with
her [Melissa] on”, but that “[a]t this time, sir, no, because
there wasn’t--I didn’t have any profit to discuss with her.”
Petitioner’s responses to the Court’s questioning concluded with
the following exchange:
THE COURT: Do you want to explain any further
with regard to the questions I have just asked you?
THE WITNESS: I would just like to say that as far
as the--it was a verbal [sic; oral] agreement. It was
not a written agreement. We have not had discussions
further as far as where my percent of take would end,
and that would be something we would have to decide.
The foregoing testimony makes clear that, at the time of the
trial and, certainly, during the year in issue, 1999, petitioner
had no understanding or expectation that her 50 percent profit
share necessarily would continue once she had received profits
equaling her expenditures on behalf of Cool G Records. In
petitioner’s view, once full reimbursement had been achieved, and
assuming continued profits, she and Melissa might negotiate and
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