New Jersey Court of Chancery May 15, 1897 (Duffy v. Kelly)

Pitney, V. C.

First, with regard to the jurisdiction of the court.

The clause in question is, in effect, a contract on the part of the lessee to convey the building to the complainant, lessor, at his option, at a fair price. This is a necessary implication from the scope and purpose of the contract.