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216 JAMAICA AVENUE, LLC v. S & R PLAYHOUSE REALTY CO.

No. 07-3967.

540 F.3d 433 (2008)

216 JAMAICA AVENUE, LLC, Plaintif-Appellant, v. S & R PLAYHOUSE REALTY CO., Defendant-Appellee.

United States Court of Appeals, Sixth Circuit.

Decided and Filed: August 27, 2008.

Attorney(s) appearing for the Case

ARGUED: David H. Thompson, Cooper & Kirk, PLLC, Washington, D.C., for Appellant. Gary Lee Walters, Thompson Hine, LLP, Cleveland, Ohio, for Appellee. ON BRIEF: David H. Thompson, Charles J. Cooper, Dean J. Sauer, Cooper & Kirk, PLLC, Washington, D.C., for Appellant. Gary Lee Walters, Stephen D. Williger, Thompson Hine, LLP, Cleveland, Ohio, for Appellee.

Before: KEITH and SUTTON, Circuit Judges; ACKERMAN, District Judge.

OPINION

SUTTON, Circuit Judge.

At stake in this case is the enforceability of a "gold clause" contained in a 1912 lease agreement.

I.

In 1912, Salmon and Samuel Halle leased a parcel of land in downtown Cleveland from its owner, Realty Investment Corporation. The term of the lease was 99 years (through March 31, 2011), and the Halle brothers and their successors in interest retained the option of renewing the

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