Steed v. Busby

John A. Fogleman, Chief Justice.

This is a suit by C.V. Steed to collect the unpaid balance on a rent note executed by appellees, Paul and Floyd Busby. Steed held a lease on 500 acres of land near Forrest City, which he had, for more than ten years, subleased either to appellees Paul and Floyd Busby or to their father. On or about January 1, 1976, Steed rented the lands to appellees (to whom we will refer as Busby Brothers) for a rental of $19,500, of which $1,000 was paid at the time. The balance was represented by a rent note for $18,500 due November 15, 1976. The agreement was entered into…