Penney v. Kentucky Utilities Company

Opinion op the Court by

Hobson, Commissioner—

Affirming.

On March 15, 1927, W. J. Willingham, W. W. Armstrong, and W. D. Pry conveyed to C. A. Penney and Anna G-. Penney, his wife, the property known as the Southern Hotel building in Pulton, Ky., for $100,000, $20,000 of which was paid by a conveyance of a farm in Mississippi. The purchasers executed 119 separate notes for $500, payable monthly, and one note for $20,-500, due April 15, 1927. C. A. Penney died in December, 1927. Payment had been made of the notes and interest as they matured up to his death.

J. E. Penney, his brother, had advanced…