Irving Trust Co. v. A. W. Perry, Inc.

The respondent was lessor in a lease having a number of years to run at the date of the tenant’s bankruptcy. The writing stipulated:

“. . . for the more effectual securing to the Lessor of the rent and other payments herein provided, it is agreed as a further condition of this lease that the filing of any petition in bankruptcy or insolvency by or against the Lessee shall be deemed to constitute a breach of this lease, and thereupon, ipso facto and without entry or other action by the Lessor, this lease shall become and be terminated; and, notwithstanding any other provisions of this lease,…