Tenreed Corp. v. Philadelphia Folding Box Co.

JACOBS, Judge:

This is an appeal from an order of the lower court striking off a judgment confessed by appellant Tenreed *438Corporation against Philadelphia Folding Box Company, appellee, for the amount of $50,400.00. We are convinced that the judgment was improperly stricken, and reverse.

The parties originally entered into a lease agreement for the rental of a commercial property in Philadelphia, effective December 1, 1963, for ten years at an annual rent of $21,000.00. The 1963 lease contained a provision for the continuation of the lease on the same terms and conditions for an additional year…