Nagy v. Wargo

It seems to be settled that where a lease contains a condition that the lessor may re-enter and put an end to the lessee’s estate, upon the lessee’s failure to pay the rent at the time specified, a court of equity will relieve the lessee and set aside a forfeiture incurred by his breach of the condition, on the theory that such condition and forfeiture are intended merely as a security for the payment of money— such relief being granted upon the condition that the defaulting party does that which is equitable and just under the circumstances; but a court of equity will refuse to aid a…