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CHARLES WHITE CO., INC. v. PERCY GALBREATH

563 S.W.2d 478 (1978)

CHARLES WHITE CO., INC., Ideal Hardware Co., Lessenberry Building Centre, Inc., James Matthews, Old Planing Mill Co., Inc., West State Steel Co., Inc. and Glasgow Paving Co., Inc., Appellants, v. PERCY GALBREATH & SONS, INC., Charles A. Watkins and Elleanor J. Watkins, his wife, Watkins Investments, a general partnership composed of Charles A. Watkins, Carlos Marberry, Jerry Adams, Kenneth Watkins, Gary Cain and Bill McKnight, Geneva Construction Co., J. F. Pace Concrete Products, Inc., McMurtrey Ready-Mix, Bob Ross Plumbing and Heating, Johnson Electric Service, Inc., Southern Fence, Tri-State Construction Co., Rogers Sheet Metal, Jack C. Dodson, Southern Welding & Fabrication, South Central York Co., Bill Wheeler Painting, and Leonard Johnson, Appellees.

Court of Appeals of Kentucky.

February 24, 1978.

Attorney(s) appearing for the Case

E. P. Barlow Ropp, Travis, Ropp & Davis, Uhel O. Barrickman, Richardson, Barrickman & Dickinson, Wilson, Herbert, Garmon & Sparks, Glasgow, for appellants.

Shelly T. Riherd, Riherd, Richardson & Patton, W. L. Gardner, Jr., Redford, Redford & Gardner, Robert M. Alexander, Walter A. Baker, Glasgow, Milliken & Milliken, English, Lucas, Priest & Owsley, Bowling Green, Richard L. Garnett, Glasgow, for appellees.

Before HOWERTON, LESTER and REYNOLDS, JJ.

LESTER, Judge.

Watkins Investments, a general partnership, obtained a construction loan from Percy Galbreath & Sons, Incorporated, which authorized advances of up to $180,000.00 with interest at 10% per annum. In connection with this loan, the partners, including Charles A. Watkins and Elleanor J. Watkins, in their capacity as individuals, signed a promissory note. As security, Percy Galbreath took a mortgage on the premises under construction and received an...

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