Leisure Sports Investment Corp. v. Riverside Enterprises, Inc.

This is an appeal by the lessor, Riverside Enterprises, Inc. (Riverside), from a summary judgment ordering specific performance of an agreement to convey the leased premises to its lessee, Leisure Sports Investment Corporation (Leisure). On January 5, 1974, Riverside and Leisure entered into a five and one-half year lease which contained an option to purchase the premises and personal property located thereon. The option clause, set out in pertinent part in the margin, 1 provided for exercise of the option during the term of the lease but not later than May 30,1979. At the time the lease was…