Larson v. B.R. Enterprises, Inc.

*253OPINION

The Facts

Larson, appellant, was the sole shareholder of Casino Holiday Inc. (hereafter “CHI”). Ross, respondent, was the sole shareholder of B.R. Enterprises (hereafter “BRE”). Both corporations arranged junket trips to Las Vegas.

On September 11, 1979, Larson and Ross entered a venture wherein they generally agreed to share the net profits of the two corporations and give each other options to purchase 50% of the other’s corporation. They signed two contracts — entitled “Agreement” and “Service Contract” — detailing the terms of their agreement and relationship. At the same time,…