Baier v. Smith

The written lease entered into by the defendant and the plaintiffs was of a store in Hartford for a term of five years from May 1st, 1930, at the monthly rental of $150 for the first two years and $175 for the succeeding three years. It contained a provision that as security for the fulfilment of its terms by the lessees they agreed to deposit with the lessor $500 to be held as liquidated damages in the event of failure of the lessees to fulfil their part of the agreement, and if the sum be not required for liquidated damages then to be applied on the final monthly instalments of rent. Upon…