Walsh

From January, 1954, to March, 1957, Ambrose Walsh was employed by Jack Rubin and Sons, Inc. (hereafter referred to as Rubin) in the operation of a sales and service business of wire rope and other logger’s supplies. These supplies were furnished by Rubin from its Los Angeles office. By the terms of the contract of employment Walsh was to receive commissions of 7% per cent based on the gross profits of the business as his compensation. Gross profits were defined by the parties as “the gross receipts derived from the operation of the venture less all operating costs, which operating costs shall be deemed to include, but not be limited to, all wages and salaries including the fixed salary of Walsh, all overhead costs, including rent, utilities, and insurance, the depreciation of capital assets to be used in the operation of the venture, including trucks, automobiles and fixtures in accordance with Rubin’s regular accounting practices and expense attributable to the preparation and delivery of merchandise, either to the warehouse of the venture, or directly to the purchaser as the case may be. ’ ’

During the period of the relationship Walsh received commissions and drew advances…