Jones v. King

The lease between Jones and King was for a period of one year, to wit, from August 23, 1926, to August 23, 1927; but it contained the following clause: “The party of the first part herein gives the party of the second part the option for an extension of this lease upon same terms of rental, for a period of five (5) years from the date of expiration hereof, without further writing.” This was unquestionably a,right to extend rather than a right to renew, and a notification by party of the second part during the first year of the desire to extend the same for the next five years would have…