[DOWNLOAD] "Wall Street Company v. Franklin National Bank" by Court of Appeals of New York * Book PDF Kindle ePub Free
eBook details
- Title: Wall Street Company v. Franklin National Bank
- Author : Court of Appeals of New York
- Release Date : January 17, 1975
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 62 KB
Description
[37 N.Y.2d 245 Page 247] Plaintiff, a limited partnership, owns the office building located at 67 Wall Street in New York City. In the late summer of 1969, defendant, in need of additional office space, negotiated a lease for six floors in said structure. The lease, executed on October 20, 1969, contained the following provision denominated as article 41: Tenant understands that the demised premises are presently occupied by the International Nickel Company, Inc. ('INCO'). INCO has indicated to Landlord that it will vacate the demised premises on or about January 1, 1970. Landlord shall give notice to Tenant promptly after being advised by INCO of the date on which it actually will vacate, but Tenant understands that Landlord does not and cannot guarantee or assure Tenant possession of the demised premises until INCO does actually vacate. If INCO has not vacated the demised premises by August 31, 1970, either party may cancel this lease by giving sixty (60) days notice to the other, and on the date fixed in such notice, this lease shall terminate and expire, both parties shall be relieved of all obligation hereunder and Landlord shall refund to Tenant any rent prepaid by Tenant. As the premises were not available for occupancy on August 31, 1970, defendant on that day notified the plaintiff that, pursuant to said article, it elected to cancel the lease, effective immediately.