Perros v. Stone's Adm'r

Opinion of the Court by

Chief Justice Rees

Affirming.

Prior to April 14, 1945, Mike S. Perros owned and operated a restaurant in Danville, Kentucky. By a written contract dated April 14, 1945, lie sold the business to Joe B. Stone and Dan Yandenburg for $7,000, of which $1,000 was paid in cash. $6,000 was to be paid in monthly installments of not less than $150 each, beginning-on May 15, 1945, and the purchasers executed a chattel mortgage on the restaurant fixtures to secure this unpaid balance. It appears that more than $5,000 of the purchase price was for the good will of the business, since…