Plaintiff sued defendants, who were trustees of a business trust, to enforce personal liability upon them for accrued rent due under a lease. When the lessee company, which was losing money because of the depression, threatened to vacate the premises, the plaintiff acquiesced in the lessee's demand that the rent be reduced for the balance of the term. Plaintiff sought to recover the amount due under the lease, claiming that the agreement for reduction was without consideration and therefore a nullity. Held, that in view of plaintiff's knowledge of the lessee's financial condition, the latter's agreeing to remain in actual occupancy of the premises constituted a sufficient consideration to support the agreement. Lindeke Land Co. v. Kalman, (Minn. 1934) 252 N. W. 650.
CONTRACTS - CONSIDERATION - AGREEMENT TO REDUCE RENT RESERVED IN LEASE,
Mich. L. Rev.
Available at: https://repository.law.umich.edu/mlr/vol32/iss7/12