R. J. Reynolds Realty Co. v. Logan

The lease executed by plaintiff to defendants’ assignor, •and under which they occupied the premises, contained this provision: “It is understood, covenanted and agreed that at the expiration of this lease, provided the said premises are owned by the landlord and are for rent for the purpose of a theatre, the tenant, in event it has fully complied with all of the terms, covenants and conditions of this lease, shall be given the privilege of renewing the same in preference to a third party at a figure satisfactory to the landlord.” By its terms this lease, which had been given for a period of…