BREYER, Circuit Judge.
This appeal is part of a lengthy controversy between Edward Rolfe, the President of Micro Hydraulic Valves, Inc., and a former employee, Walter Mielko, who had formed a company called Micro Hydraulics Valve Co., Inc. (Because of the confusing similarity of the names, we shall refer to Rolfe's company as "Rinc" and to Mielko's company as "Mico"). In 1976 Rinc bought the assets of Mico and, as part of the sale price, gave Mico a $70,000 promissory...
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