FOX, J.
As part of the consideration for the purchase of 14 horses from Victor Cox, defendant signed a document dated September 16, 1950, reading in part as follows:
"Pancho Barnes promises and agrees to Pay to Vic Cox the sum of Three Thousand and Two Hundred and No cents ($3200.00) within one year from the date of this agreement. However Pancho Barnes agrees that all monies from the sale of any of the above stock shall be paid to Vic Cox as soon as is possiable...
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