Texas Co. v. Kent

GALLAGHER, Chief Justice.

Appellee, G. C. Kent, and one C. A. Middleton were, on and prior to January 14,1929, owners of certain oil refineries, oil leases, and personal property used in connection therewith, and were operating the same as copart-ners under the name of Kent-Middleton Refining Company. On the date aforesaid Kent sold and conveyed his undivided one-half interest in all said properties to Middleton, in consideration of a recited cash payment of $50,000 and a note in the sum of $345,000, payable in ‘monthly installments of $25,000 each, beginning April 1, 1929. The vendor’s lien…