Acme Laundry, Towel & Linen Supply Co. v. Washington Square, Inc.

CLEMENS, Commissioner.

In this declaratory judgment action the plaintiff tenant (Acme) and the defendant landlord (Washington Square) seek an interpretation of their lease concerning the amount of rental due by Acme. The dispute arises from two paragraphs in the lease. One requires Acme to pay a “minimum annual rental”; the other requires Acme to pay an “additional percentage rental” based on its gross sales but grants Acme, conditionally, a credit for rental paid in excess of five percent of its gross sales. This credit clause is the crux of the case. The trial court found Acme was entitled…