New York Court of Appeals
In the Matter of 166 Mamaroneck Avenue Corp. v. 151 East Post Road Corp.
June 11, 199178 N.Y.2d 88
Summary
The Court affirmed the Appellate Division, holding that the lease renewal option with an arbitration clause is definite and enforceable because it provides an objective standard for determining rent, and therefore is not an invalid agreement to agree.