Sears, Roebuck & Co. v. 9 Avenue-31 Street Corp.

In April, 1930, the corporate defendant leased to the plaintiff space of over two hundred thousand square feet in a building to be erected thereafter by the landlord. The term of the tenancy was to commence on January 15,1931, and to continue until April 30, 1952. The annual rental was fixed at ninety-three cents per square foot and the plaintiff agreed to pay “ in advance on date of actual possession ” the rent from the 15th day of January, 1931, to the 31st day of December, 1931, on condition, however, that “ the Landlord shall furnish the Tenant with a bond with corporate or other surety…