Okey, Inc. v. American National Bank & Trust Co.

Plaintiff Okey, Inc., brought an action for a declaratory judgment in the circuit court of Cook County. Plaintiff occupied property as a tenant under a lease agreement executed with lessor American National Bank. Plaintiff lessee sought a declaration of the validity of its exercise of an option to purchase contained in the lease agreement. Lessor contended, however, that the option, and the lease in which it was contained, were terminated by prior acts of the lessee. The trial court awarded judgment on the pleadings to lessor. Lessee appeals.

On December 31, 1965, Okey and American National…