THE DUAL STUDENTS PREMATURE RETRACTION OF THE LANDING GEAR DURING THE TAKEOFF PORTION OF A TOUCH AND GO, AND, THE INADEQUATE SUPERVISION OF THE FLIGHT BY THE INSTRUCTOR PILOT. FACTORS WHICH CONTRIBUTED TO THE ACCIDENT WERE THE DEACTIVATION OF THE LANDING GEAR SAFETY SYSTEMS BY THE COMPANY MAINTENANCE DEPARTMENT AND THE INSTRUCTOR PILOT'S OPERATION OF THE AIRCRAFT WITH KNOWN EQUIPMENT DEFICIENCIES.