800 Union Street Corp. v. 800 Union St. Corp.

On May 11, 1946, appellant-respondent and respondent-appellant executed a lease of defendant’s building at 800 Union Street, Brooklyn, the ten years beginning June 1, 1946, at a rental of $34,500 a year, payable $2,875 a month, the individual stockholders of plaintiff corporation guaranteeing performance of the lease. The lease provided that, if the rental was not approved by the arbitrator or thereafter confirmed by the Supreme Court, the lease was not to be effective. Although the arbitration hearing was set for May 13, 1946, at the same time that the lease was signed — May 11, 1946 — a…