- 12 - large numbers of individual breeding sheep that did not exist. The flock recap sheets prepared by Hoyt contained false information and did not represent the sheep purportedly owned by each partnership. Sheep purportedly sold to the partnerships were not of the quality represented on the bills of sale. Further, the total purchase price that each partnership agreed to pay for each sheep was much greater than the fair market value of similar quality sheep. The average purported purchase price per ewe paid by the sheep partnerships ranged from $1,135 to $2,126, but these purchase prices were not within a reasonable range of value. The sheep that Barnes Ranches sold for $400 or more typically had been judged champions or had won some other awards at national shows, but the sheep purportedly sold to the sheep partnerships were nowhere near the quality of breeding sheep sold for $400 or more. The partnerships never acquired control over the ewes allegedly purchased, nor did they obtain the benefits and burdens of ownership of any breeding ewe. Barnes Ranches purportedly managed the partnerships’ breeding sheep in a commingled flock with Barnes’s own sheep. No sheep registration certificates were issued in the name of any of the partnerships. Neither Hoyt nor Barnes Ranches kept any records that adequately identified the breeding sheep owned by each partnership. The partnerships could not identify the specific breeding sheep they purchased, norPage: Previous 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 NextLast modified: November 10, 2007