Lowenstein v. Becktold Co.

BOHLING, C.

Louis Lowenstein instituted this action against Becktold Company, a corporation, for a declaratory judgment to determine the interpretation of the term “net profits” in a lease which, after, providing for a base rental, provided for an additional yearly rental of 15% of the amount by which net profits exceeded $15,000. Plaintiff, in his petition, sought a declaration that the additional yearly rental should be paid upon the net profits (“net operating profits”) of defendant without the deduction of income taxes; claimed a balance of $35,288.84 was due plaintiff from defendant for…