The store had $9460.00 worth of goods, reckoned at cost. Jim agreed to
let me have all his fixtures and show-cases, which he said had cost him
over a thousand dollars, and good-will, for $540.00, making the cost of
the store to me $10,000.00.
When Jim told me the cost would be $10,000.00 I was considerably
disappointed, for I had only $8000.00 besides the farm. I told Jim the
farm was worth, I thought, about $8500.00, but I couldn't sell that
right away and, of course, I couldn't pay out all my ready cash, because
I wouldn't have anything left for operating expenses.
Jim was pretty decent about it, and said:
"You give me $7000.00 in cash and a mortgage on the farm and I'll give
you a year to pay the balance. With the big profit you can make in this
store, you'll be able to pay that $3000.00 in no time at all. Besides,
if you couldn't quite manage it in a year, I'd renew it, of course."
But I thought I ought to have more than $1000.00 left, and finally it
was agreed that I should give him $6500.00 in cash and a mortgage on the
farm for $3500.00
I had my $8000.00 deposited in the Farmdale Trust Company, so we went
over there and I gave him a check for the $6500.00. I thought I ought to
do well with $1500.00 besides that splendid store of goods.
Jim had started out to be a lawyer and had studied law for a while, and
he said he would draw up the mortgage himself so there wouldn't be any
delay about it. I brought him over some legal-looking papers I had from
Aunt Emma's estate--deeds, he called them--and we fixed that up without
any trouble.
I asked Jim if we ought not to take stock together, and he said, "Sure,
if you want to;" but I found that he had an exact stock-keeping system,
and Jim suggested that we pick out about a dozen items and just check
those up--"for," said he, "what's the use of checking up fifty cents'
worth of this and thirty cents' worth of that? Your time is too valuable
for that."
I agreed with him, for I couldn't afford to waste my time now that I was
the owner of a store.
Betty asked me that night if I had had a lawyer to go over the thing
with me, but I laughed at her and said, "I don't want a lawyer for a
little deal like this between Jim and me." I told her it would have been
almost an insult to have suggested that I wanted a lawyer. She shook her
head sadly and said something about a man who was his own lawyer having
a fool for a client--which I thought was not at all called for!
Public-domain text, read in full here on John Shaqi.
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