Daly v. Sumpter Drug Co.

Prior to May 5, 1910, Ed F. Anderson was engaged in the retail drug business at Pulaski, this State, trading under the name of the Sumpter Drug Compány, a name long and favorably known in the business life of that city. On the day just mentioned he sold a half interest in the business to defendant Claud Elledge; at the price of $4,000, of which sum $2,500 was paid in cash, and the residue in short installments, all within a few months. As a part of the transaction of purcháse, an equal partnership was formed between the two; the whole stock' being estimated at $8,000. 1 At this time Anderson…