US Court of Appeals

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US Court of Appeals published works such as Meinhard v. Salmon. These writings evoke lease, Meinhard and renewal.

Quotes by US Court of Appeals

US Court of Appeals, Meinhard v. Salmon

“ I assume that where parties engage in a joint enterprise each owes to the other the duty of the utmost good faith in all that relates to their common venture. Within its scope they stand in a fiduciary relationship. I assume prima facie that even as between joint adventurers one may not secretly obtain a renewal of the lease of property actually used in the joint adventure where the possibility of renewal is expressly or impliedly involved in the enterprise. I assume also that Mr. Meinhard had an equitable interest in the Bristol Hotel lease. ”

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Source: Wikisource

US Court of Appeals, Meinhard v. Salmon

“ A tenant's expectancy of the renewal of a lease is a thing, tenuous, yet often having a real value. It represents the probability that a landlord will prefer to relet his premises to one already in possession rather than to strangers. Less tangible than "good will" it is never included in the tenant's assets, yet equity will not permit one standing in a relation of trust and confidence toward the tenant unfairly to take the benefit to himself. At times the principle is rigidly enforced. ”

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Source: Wikisource

US Court of Appeals, Meinhard v. Salmon

“ In short, as we once said, "the elements of actual fraud -- of the betrayal by secret action of confidence reposed, or assumed to be reposed, grows in importance as the relation between the parties falls from an express to an implied or a quasi trust, and on to those cases where good faith alone is involved." ”

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Source: Wikisource

US Court of Appeals, Meinhard v. Salmon

“ Fair dealing and a scrupulous regard for honesty is required. But nothing more. It may be stated generally that a partner may not for his own benefit secretly take a renewal of a firm lease to himself. ”

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Source: Wikisource

US Court of Appeals, Meinhard v. Salmon

“ Salmon and Mr. Meinhard I should have little doubt as to the correctness of this result assuming the new lease to be an offshoot of the old. Such a situation involves questions of trust and confidence to a high degree; it involves questions of good will; many other considerations. As has been said, rarely if ever may one partner without the knowledge of the other acquire for himself the renewal of a lease held by the firm, even if the new lease is to begin after the firm is dissolved. ”

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Source: Wikisource

US Court of Appeals, Meinhard v. Salmon

“ Where the trustee, or the partner or the tenant in common, takes no new lease but buys the reversion in good faith a somewhat different question arises. Here is no direct appropriation of the expectancy of renewal. ”

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Source: Wikisource

US Court of Appeals, Meinhard v. Salmon

“ In the case of tenants in common there is still greater liberty. There is said to be a distinction between those holding under a will or through descent and those holding under independent conveyance. ”

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Source: Wikisource

US Court of Appeals, Meinhard v. Salmon

“ Further, that an expectancy of renewal inhered in that lease. Two questions then arise. Under his contract did he share in that expectancy? And if so, did that expectancy mature into a graft of the original lease? To both questions my answer is "no."
The one complaint made is that Mr. Salmon obtained the new lease without informing Mr. Meinhard of his intention. Nothing else. There is no claim of actual fraud. No claim of misrepresentation to any one. Here was no movable property to be acquired by a new tenant at a sacrifice to its owners. ”

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Source: Wikisource

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