McGrory Stores Corp. v. Goldberg

Bentley, V. C.

On March 24th, 1913, the defendants’ grantor entered into a lease with the complainant of certain property, for a term of ten years, to commence on May 1st, 1913; and, of course, to expire on April 30th, 1923, as conceded by counsel. Among other things the lease provided as follows:

*447“And at the expiration of the term of this lease, the party of the second part hereto shall have the option of renewing said lease for a further term of ten (10) years, at the rental of one hundred and fifty-five dollars ($155) per month, for the first five years, and one hundred and sixty-five…