-85-
sent Weaver a letter requesting that Weaver accept “a note of a
third party, International Films, Inc.” (IFI), one of IRA’s
subsidiaries, reflecting an obligation due from IFI to IRA in
full payment of the $10,000 amount due. Exh. 9103, at 30.
Weaver agreed to this proposal. On November 30, 1979, Grogan, on
behalf of IRA, sent Weaver a document purporting to be an IFI
note payable to IRA for $10,000 which was assigned to Weaver.
Exh. 9103, at 31-32. On March 12, 1980, Meyers, on behalf of
IFI, sent a letter to Weaver requesting that he agree to extend
to July 1, 1980, the time in which IFI had to pay him $10,000.
Exh. 9103, at 36. On July 2, 1980, IFI purportedly paid Weaver
$10,907.37 by check signed by Grogan. Exh. 9103, at 37. (The
record does not reflect whether this check was negotiated.) On
August 1, 1980, Kanter sent Weaver a letter purportedly
forwarding a check in the amount of $154,176.44 for the stock of
KWJ Corp. Exhs. 9103, 38. (The record does not reflect whether
this check was negotiated.)
The fact that Weaver did not receive payment on his sale of
KWJ Corp. to IRA until August 1980 casts serious doubt on
Kanter’s testimony that Weaver agreed to sell KWJ Corp. for
$150,000 in 1976 because he needed the money. Kanter, Transcr.
at 3652-3653.
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