166 MAMARONECK v. 151 E POST


78 N.Y.2d 88 (1991)

In the Matter of 166 Mamaroneck Avenue Corp., Respondent, v. 151 East Post Road Corp., Appellant.

Court of Appeals of the State of New York.

Decided June 11, 1991.


Attorney(s) appearing for the Case

Robert A. Machleder and Robert C. Buff for appellant.

Herbert Schrank, Stanley Goldstein and Patricia M. Murphy for respondent.

Judges SIMONS, KAYE, ALEXANDER, TITONE, HANCOCK, JR., and BELLACOSA concur.


Chief Judge WACHTLER.

In this case, we consider whether a lease renewal option that provides for arbitration if the parties cannot agree on rent for the renewal period is indefinite and therefore unenforceable. We agree with the Appellate Division that the option is not an invalid "agreement to agree" because the arbitration clause provides an objective standard for determining the amount of rent. Accordingly...

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