Peurifoy v. Jones

W. M. Jones, as part consideration for the conveyance of a tract of land, executed and delivered to S. W. Peurifoy five notes for $540 each, due and payable, the first one on May 1, 1931, anh one each year thereafter until all were paid. On or about January 10, 1931, thereafter, Peurifoy, the payee, notified Jones, the maker of said notes, that same had been sold and delivered by him to one Ed Reynolds, and that Peurifoy had no further interest in them. On or about the 17th day of January, 1931, Jones paid Reynolds $750 in cash, canceled a debt due by Reynolds to him of $47, and agreed to…