Vanguard Diversified, Inc. v. Review Co.

Here is a case of first impression in New York on the incidents of a preliminary injunction, wheré the trial court is reversed on appeal.

The Review Company is the owner of industrial property in Valley Stream, New York, and Vanguard Diversified, Inc., has been its tenant under leases expiring on May 31, 1969 containing provisions for five-year options to renew. When Vanguard attempted to exercise the options, Review rejected the renewals on the ground that Vanguard had not complied with certain provisions of the lease. Vanguard then instituted an action for declaratory judgment that it had…