Anderson v. Jacobs

NESBETT, Chief Justice.

Appellants were lessees of appellee under a lease which contained an option to renew for a period of two years “upon terms and conditions to be mutually agreed upon between the parties hereto at the time this option of renewal is exercised”. The main question to be decided is whether the provision is enforceable in the absence of mutual agreement.

The lease called for a monthly rental of $325 and expired on August 31, I960. Appellants gave 90 days’ written notice of their intention to renew as required in the lease. No steps were taken by either party to negotiate the…