Nebel, Inc. v. Mid-City National Bank

Plaintiff, Nebel, Inc., and defendant, the Mid-City National Bank of Chicago, are the lessor and lessee under a 99-year real estate lease (Lease), containing a rent-payable-in-gold clause, originally executed in 1906. Plaintiff demanded rental payments to be made with gold coins, pursuant to the Lease, which defendant refused. In a three-count complaint, plaintiff charged defendant with a breach of the lease (count I); sought a declaration of rights (count II); and subsequently voluntarily dismissed count III. Plaintiff claimed that a 1988 amendment to the Lease (Lease Amendment) constituted…