Nebaco, Inc. v. Riverview Realty Co.

OPINION

By the Court,

Zenoff, C. J.:

Nebaco, together with its parent organization, Nevada National Bank, seeks to set aside its obligations under a lease executed with Riverview Realty on the ground that performance on its part became impossible.

On March 1, 1969 Nebaco and Riverview Realty executed a long-term lease. Nebaco’s performance under this lease was guaranteed by Nevada National Bank. The pertinent portions of the lease state that “Lessee shall have up to and including August Í, 1969, within which to attempt to obtain interim and/or long-term financing for construction of improvements…