[Download] "Mcmillan v. Great Northern Railway Co." by Department Two Supreme Court of Washington # Book PDF Kindle ePub Free

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eBook details

• Title: Mcmillan v. Great Northern Railway Co.
• Author : Department Two Supreme Court of Washington
• Release Date : January 28, 1954
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 63 KB

Description

The appellant has for some twenty years been paying to the respondents an annual rental of eighteen thousand dollars on a certain leasehold in the city of Seattle. The lease was for ninety-nine years and was executed in 1927. It called for a rental of twenty-seven thousand dollars a year for the first fifteen years and thirty-six thousand dollars a year for the remainder of the term. As modified in 1932, it provided for a rental of eighteen thousand dollars a year from November 1, 1932, to April 30, 1943. After April 30, 1943, the rental was to be based upon the actual value of the leasehold. Every five years there was to be an appraisal of the leasehold, and the annual rental for the ensuing five years was to be five and one-half per cent of the amount shown by such appraisal, with a minimum of eighteen thousand dollars and a maximum of thirty-six thousand dollars a year. The lessee was to nominate the first appraiser not more than one hundred eighty days and not less than ninety days prior to the beginning of each such five-year period. The lessors were to nominate a second appraiser within fifteen days after receipt of notice of the nomination of the first one, and the two appraisers thus selected were to select a third. The provision relative to the appointment of the appraisers contained the following clause:

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