Lee v. Barnes

John Lee owned several motion picture theatres in central Washington and the equipment necessary to operate them. Peter Barnes desired to buy Lee’s holdings: The following- -transaction was ■ entered into. Barnes organized six corporations, each of which was to operate one or more theatres in a given geographical area. The interest of each- corporation was so tightly interwoven with the performance of the others under the twenty-one documents the parties executed (e.g., a default by one was a default by all) that' for' our present purposes we. can consider them as a unit.

The theatres…