Michigan Trust Co. v. Herpolsheimer

August 12, 1919, William G. Herpolsheimer owned certain real estate in the city of Grand Rapids known as the Herpolsheimer store building, and the old Hazeltine and Perkins building. On that date he made a lease of the real estate above mentioned to the Herpolsheimer Company, an alleged common-law trust, for a period of 10 years at a rental of $24,000 a year, and gave in the lease an option to the lessee for an additional 10-year term on the same conditions at a stipulated rental of $30,000 a year. The Herpolsheimer Company was engaged in the mercantile business in the city of Grand Rapids,…