Kelly v. Peeples

This appeal is from an order determining the validity of a 1972 written agreement and ordering its enforcement. We reverse.

In 1970, appellant began leasing laundromat equipment from his stepfather for $300 per month. On April 28, 1972, the stepfather signed a bill of sale purporting to “bargain, sell, and deliver” to appellant the laundromat equipment and his interest in the leases of the two buildings where the equipment was located. On August 29, 1972, appellant, his stepfather, and his stepfather’s wife signed a purchase agreement providing that appellant pay the $300 per month to the…