Newkirk v. Millman Brothers, Inc.

The parties herein entered into a 15-year lease in 1959 with defendant Millman Brothers, as lessee, to operate a women’s clothing retail store in plaintiffs Newkirks’ building. The lease called for $800 rent per month. In 1963 defendant approached plaintiffs to effect a reduction in rent. The parties disagree as to what exactly was said and understood between them as to the significance and duration of the reduction, but the trial court did not reach these issues and they are not before us on this appeal. What is significant is that plaintiffs accepted $600 rent payments until 1967, when…