Walker v. Keith

Walker v. Keith - Contracts 9/24 Agreements to Agree Walker...

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Contracts 9/24 Agreements to Agree Walker v. Keith, Kentucky Court of Appeals, 1964 Facts : Lessors leased a plot to lessee for a 10 year term at $100/month. The lessee was given an option to extend the lease for an additional 10-year term, under the same terms and conditions except as to rental. The option provided “rental will be fixed in such amount as shall actually be agreed upon by the lessors and the lessee with the monthly rental fixed on the comparative basis of rental values as of the date of the renewal with rental values at this time reflected by the comparative business conditions of the two periods.” Procedure : based upon the verdict of an advisory jury, trial court fixed rent at $125. Issue : whether the option provision in the lease fixed the rent with sufficient certainty to
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