Borengasser v. Chatwell

McHaney, J.'

On February 14, 1939, Walter Chat-well, being the owner of the Ft. Smith Paint & Wall Paper Company of Ft. -Smith, Arkansas, by written contract, sold the assets of said business to Sigmund Borengasser for a consideration of $9,000, of which $500 was paid in cash and for the remainder Sigmund gave his note for $8,500, payable in monthly installments. The contract between the parties retained title to the assets so sold until the full amount was paid with interest. It also provided that the seller should hay,e title not only to “the present assets” of the business “but is to be…