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Contracts Keyed to Epstein
Walker v. Keith
Citation:
382 S.W.2d 198 (1964)
ProfessorMelissa A. Hale
CaseCast™ – "What you need to know"
Facts
In July 1951 appellants, the lessors, leased a small lot the appellee, the lessee, for a 10-year term at a rent of $100 per month. The lessee was given an option to extend the lease for an additional 10-year term, under the same terms and conditions except as to rental. The renewal potion provided: “rental will be fixed in such amount as shall actually be agreed upon by the lessors and the lessee with the monthly rental fixed on the comparative basis of rental values as of the date of the renewal with rental values at this time reflected by the comparative business conditions of the two periods.” The lessee gave the proper notice to renew but the parties were unable to agree upon the rent. The lessee claimed that he is entitled to the extension of the lease.
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