De Peyster v. Michael
Court of Appeals of New York
6 N.Y. 467 (1852)
Van Rensselaer (lessor) leased a parcel of land to Snyder (lessee) with a condition on the lease that whenever lessee sold the land, the lessor, his heirs, and assigns should receive one quarter of the sale price. De Peyster (plaintiff) is the assignee of the lessor and Michael (defendant) is the assignee of the lessee. A portion of the land in question was sold to Michael, but De Peyster was never paid one quarter of that sale price. As a result, De Peyster brought action to recover the land from Michael as was the remedy contemplated in the original lease. The circuit court ruled in favor of Michael, stating that the one quarter sale provision was void, and the state supreme court affirmed. De Peyster appealed.
Rule of Law
Holding and Reasoning (Ruggles, C.J.)
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