(DOWNLOAD) "Oriental Refining Co. v. Hallenbeck" by Colorado Supreme Court # eBook PDF Kindle ePub Free
eBook details
- Title: Oriental Refining Co. v. Hallenbeck
- Author : Colorado Supreme Court
- Release Date : January 21, 1952
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 62 KB
Description
Under the first paragraph of the rider, above referred to, lessee was granted an option to renew the lease upon the same terms for an additional three-year period, and, likewise, an option to purchase the property at any time during the original term or any extension thereof. The second and remaining paragraph of the rider is particularly pertinent here as it contains the substance of the basis of this entire controversy. It reads as follows: "The lessee has paid the lessor Seven Hundred Dollars ($700.00) covering the first months rental under the terms of said lease and Three Hundred and Fifty Dollars ($350.00) as a guaranty for the faithful performance of said lease by the lessee and upon the failure of the lessee to faithfully perform the lessor shall be entitled to forfeit of said Three Hundred and Fifty Dollars ($350.00) and retain the same as liquidated damages. If the lessee has faithfully performed said terms of said lease the Three Hundred and Fifty ($350.00) Dollars to be applied on the last months rent under the terms of the lease or any extension thereof under the option granted herein."