Waters v. Taylor

This case concerns an action based upon a written commercial lease. The lessors contend that the lessee owes $4,335.30, based on the following provision in the lease:

"226. It is understood and agreed that the monthly guaranteed rental of THREE HUNDRED TWENTY-FIVE AND NO/100 ($325.00) DOLLARS per month will be adjusted on July 1, 1980, and each July 1st thereafter during the lease term, up or down, by an average of the percentage of the change (increased or decreased) of the BLS Revised Consumer Price Index, reference U.S. City average base 1967 equals 100. Said average will be computed on the…