Bailey v. Fox

On the fourth day of November, 1885, the appellant, being the owner of a stock of hardware and agricultural implements, sold a one-third interest therein to the respondent. The terms of sale were, that an inventory of the stock should be taken and completed on or before November 30, 1885, the same to be valued at net San Francisco wholesale prices, and when the value was thus ascertained, the value of the fixtures should be added, and the respondent should then pay the one third of the amount thereof as follows: Fifteen hundred dollars in cash, and the balance in two secured notes of equal…