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Contracts Keyed to Epstein
Oppenheimer & Co., Inc. v. Oppenheim, Appel, Dixon & Co
Citation:
86 N.Y.2d 685, 660 N.E.2d 415, 636 N.Y.S.2d 734 (1995)Facts
In 1986, plaintiff Oppenheimer & Co. moved to the World Financial Center in Manhattan. In December 1986, the parties here entered into a conditional letter agreement to sublease the 33rd floor. The proposed sublease between the parties was attached to the agreement, which provided that the sublease would be executed only upon the satisfaction of certain conditions. Defendants were required to submit to plaintiff, on or before January 2, 1987, its plans for “tenant work” and if defendant had not received the prime landlord’s written consent by the agreed date, the agreement would be deemed null and void. Plaintiff never delivered the written consent on or before the final deadline. Rather, plaintiff’s attorney telephoned defendant’s attorney and informed that the prime landlord’s consent had been secured. Next day, defendant informed plaintiff’s attorney that the agreement was invalid for failure to timely deliver the written consent.
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