Joseph G. Reed Company v. Watkins

Opinion of the Court by

Creal, Commissioner

Reversing.

Prior to the 12th day of September, 1928, Bert Watkins and Paris Stambaugh were partners engaged in the mercantile business at West Van Lear, Johnson county, Ky., under the firm name of Bert Watkins & Co., but on that date Watkins sold his interest in the business to Stambaugh. The sale and transfer was evidenced by a written contract, under which Stambaugh assumed the payment of all outstanding liabilities of the firm. At the time of the dissolution of the partnership, the firm was indebted in the sum of $550.85 to the Joseph Gr. Reed…