(DOWNLOAD) "Morlee Sales Corp. v. Manufacturers Trust Company" by Court of Appeals of New York * Book PDF Kindle ePub Free

eBook details

Title: Morlee Sales Corp. v. Manufacturers Trust Company
Author : Court of Appeals of New York
Release Date : January 12, 1961
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 64 KB

Description

The issue here is whether the Manufacturers Trust Company, as purchaser of the property, was authorized, under paragraph 18 of the lease, to give notice of cancellation in the absence of a resale of the property by it. Paragraph 18 provides: ""That if the Landlord should sell said premises, prior to the expiration of this lease and the purchaser thereof desires possession of said premises, then and in that event, the Tenant will cancel this lease and surrender possession of said premises, and will execute an instrument to effect a proper cancellation of this lease and surrender of the demised premises upon receiving 60 days written notice of the cancellation of this lease, by registered mail addressed to the Tenant to the premises herein demised, and the security deposited with the Landlord as aforementioned shall be returned to the Tenant."" (Italics supplied.) On August 1, 1957 respondent Morlee entered into a five-year lease with the Ave. D. Building Co., Inc., the then landlord of the leased premises now under consideration. In addition to the