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CHANDLER v. KIRKPATRICK

No. 79-343.

603 S.W.2d 406 (1980)

Bobby Lynn CHANDLER and Frank Ramsey, Appellants, v. Lonnie KIRKPATRICK, Appellee.

Supreme Court of Arkansas.

September 2, 1980.

Attorney(s) appearing for the Case

Arnold, Arnold, Lavender & Rochelle, Texarkana by E. Ben Franks and Frank J. Gamble, III, DeQueen, for appellants.

Dowd, Harrelson & Moore, Texarkana, for appellee.

GEORGE ROSE SMITH, Justice.

In September, 1975, the appellant Frank Ramsey was doing business in DeQueen as the Ramsey Insurance Agency. Ramsey and the appellee, Lonnie Kirkpatrick, borrowed $35,000 from a DeQueen bank, executing a joint note as evidence of the debt. The money was put into the business, the name being changed to Ramsey-Kirkpatrick Insurance Agency. Kirkpatrick, who was a pulpwood dealer, testified that by the transaction he acquired a half interest...

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