Two decades ago, New York courts allowed equity to trump the law and case precedents in many of its commercial leasing decisions. During the new millennium, the pendulum swung back to enforcing contracts and leases as they have been written, no matter how painful and obtrusive the result.
When Sympathy Trumps Contractual Rights
Is "equity" more powerful than enforcing the terms of a renewal lease option in a lease between two sophisticated business entities? In <i>135 East 57th Street LLC v. Daffy's Inc.</i>, the Appellate Division, First Department, signaled that it is.
By
Jeffrey R. Metz And Adam Leitman BaileyThis premium content is locked for LawJournalNewsletters subscribers only
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