Industrial Trust Co. v. American Stores Co.

Speakman, J.,

delivering the opinion of the Court:

The only question to be here considered is whether, where there has been a transfer of a reversion subject to a lease under seal, and an assignment of the lease to the transferee of the reversion, with notice to the tenant of such transfer and assignment, the payment of a sum of money to the transferor prior to the transfer, to be applied in payment of rent, before such rent becomes due, would be sufficient as a defense in an action on the lease by the person then holding the lease as assignee of the transferee, to recover the amount of such…