Joseph Martin, Jr. Delicatessen v. Schumacher
Joseph Martin, Jr. Delicatessen v. Schumacher, 52 N.Y.2d 105, 436 N.Y.S.2d 247, 417 N.E.2d 541. (N.Y. App. Ct. 1981).
Facts: Original lease had a provisions that after five years, the lease could be renewed with a rent amount to be agreed upon. Five years into the lease, the parties could not agree upon a new rent amount.
Issue: Are both parties required to come to the bargaining table and agree upon a new rent amount?
Holding: No, there is no such enforceable clause.
Rule: An "agreement to agree" is not enforceable.