Biallas v. March

George Biallas and wife, plaintiffs, as lessors entered into a written lease with defendant as lessee for a vacant parcel of property consisting of a corner lot adjoining plaintiffs’ property in Charlevoix county, Michigan, for a term of 20 years from and after March 25, 1935, the property “to be occupied.for public dance hall, confectionery and restaurant.” The rent for the entire term was the sum of “one dollar and other valuable considerations.” The lease gave defendant an option to purchase the leased land “at a price favorably corresponding to sale price” and other values of lands in the…