OPINION
PER CURIAM:
From 1936 through the period involved in this litigation, appellant Albert J. Bernard was employed as a sales manager for a firm in Minnesota, a job which involved between 30 and 50 hours of his time weekly. At some time after 1960, Bernard decided to buy 3,010 shares of Bohemian Surf Equipment Mfg. Co. (Bohemian) for $30,100. During 1961 and 1962, he served as president and a director of Bohemian, but received no compensation for either...
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