Wein v. Arlen's, Inc.

Under the terms of the lease the landlord was given the option to repossess the premises if the lessee was declared bankrupt or insolvent or made an assignment for the benefit of its creditors. If he exercised this option in the event of bankruptcy, there being no covenant in the lease for the recovery of damages on such exercise, his so doing would terminate all of the mutual obligations of the parties and plaintiff would lose all rights to future rent thereafter. 3 Collier, Bankruptcy (14th ed.) 1901; See Oldden v. Tonto Realty Corporation, 143 F. (2d) 916. A termination on account of…