Joseph Martin, Jr Delicatessen, Inc. v. Schumacher
52 N.Y.2d 105, 417 N.E.2d 541 (1981)
Nature of the Case
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Facts
Schumacher (D) leased a store to Martin (P). The lease provided that P was entitled to renew the lease for an additional five-year term at a rental rate to be agreed upon. P gave notice to D to exercise the renewal provision. D quoted a price of $900 a month. P hired an appraiser who indicated that a fair market value for the store was $545.41 a month. P sued for specific performance. D sued for eviction and won; the lease provision was an agreement to agree and was not enforceable. The appellate court reversed and held that P should be allowed to prove whether a binding agreement was intended by the parties. The appellate ruling overturned established precedent. The question was certified to the court of appeals.
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