Cain v. Lawrence Drug Company

Opinion of the Court by

Chief Justice Thomas

Reversing.

C. B. Walters owned a storeroom in Louisa, Ky., and he leased it by written contract to the Lawrence Drug Company for a term of five years; the rental being $90. per month payable at the first of each month. The lease contained this stipulation, “with the privilege of an additional 5 years, if so desired by the Drug Company;” but, if the privilege was exercised, the rental for the additional period was to be fixed by agreement of the parties, and if they could not agree they were to arbitrate it in a manner specified in the contract. After…