United States Bankruptcy Court for the Southern District of New York
19 B.R. 537 (1982)
In September 1979, U.L. Radio Corp. (U.L. Radio) (plaintiff) entered into a 10-year lease with Jemrock Realty Company (Jemrock) (defendant) of retail space in a primarily residential building that included a few commercial tenants. The lease provided that the premises could be used only for the sale and service of televisions and appliances. It further specified that noise coming from the premises would constitute breach. Assignment was permitted with Jemrock’s written consent, which could not be unreasonably withheld. The rent was $9,600 per year for the first three years; $10,800 for years four through six; and $12,000 for the remainder of the term. In May 1981, U.L. Radio filed a Chapter 11 petition with the intent to liquidate. It moved the bankruptcy court to approve its assumption of the Jemrock lease and assignment to Just Heaven Restaurant, Ltd. (Just Heaven). Just Heaven’s president, whose net worth exceeded $50,000, executed a personal guarantee ensuring payment of rent over the first two years of the assigned term. Just Heaven also set aside $20,000 for construction of the space, which included soundproofing. Jemrock opposed the assignment. The bankruptcy court considered U.L. Radio’s motion.
Rule of Law
Holding and Reasoning (John J. Galgay, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.
Here's why 202,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 14,000 briefs, keyed to 188 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.