Reid Drug Co. v. Salyer

Opinion op the Court by

Judge Thomas

Reversing-

For about three years prior to November 15, 1935, S. C. Reid operated a drugstore in Hazard, Ky., in the trade-name of Reid Drug Company. He began with only about $100, and on the day specified the value of his stock and fixtures and other assets, consisting of bills receivable, etc., amounted to about $6,000, over and above his outstanding indebtedness; the latter amounting to about $3,000. On that day the appellants and plaintiffs below, Dr. K. N. Salyer and Dr. J. C. Coldiron, jointly purchased a one-half interest in the business by each of them…