International Industries, Inc. v. Dantone

McMurray, Judge.

In 1968, Futch, the owner of certain real estate, entered into an agreement with IHOP Corp. of Piedmont (IHOP), a wholly owned subsidiary of International Industries, Inc., whereby IHOP agreed to construct a restaurant on Futch’s property, and Futch agreed to pay $75,000 of the construction costs of the building and to lease the restaurant location to IHOP for a period of 20 years with options for extensions. On April 15,1969, the finalized lease agreement which is the subject matter of this action was entered into between Futch and IHOP. Soon thereafter the construction of…