Pearce v. Turner

Citations

• 150 Ill. 116
• 36 N.E. 962

Syllabus

<p>1. Lease — extension of term — option of lessor to extend or sell to lessee —construed. In 1875 the owner of premises leased the same from May 1, 1875, to May 1, 1880. The lease was extended, from time to time, by indorsements made thereon, the last being April 23, 1890, extending the lease from May 1, 1890, to May 1, 1895, which indorsement was as follows: “This lease * * * is extended five years from May 1,1890, upon the same terms and conditions of above extension made and dated April 8, 1885. At expiration of this extension it shall be the privilege of the party of the first part, or his heirs or assigns, to extend the said lease from May 1,1895, at $1200 per year, payable in monthly installments, with all the conditions of the original lease, or to sell * * * the party of the second part * * * for $30,000, the said party of the second part accepting the above conditions and terms:” Held, that the extension of 1890 gave the lessee no rights in the property after May 1, 1895.</p> <p>2. The advantage to be derived from the privilege was a part of the consideration for the extension of the lease from May 1,1890, to May 1, 1895, and the fact that the lessee accepted the terms and conditions of the extension from May 1,1890, to May 1,1895, including the privilege in question, did not operate to impose upon the lessor a contract to either extend the lease to May, 1900, or sell the premises at the figure named.</p>