In the Matter of William F. Wallace, as Trustees Under a Declaration of Trust Dated December 30, 1955…

Summary

The Court of Appeals affirmed the Appellate Division, holding that article 17 of the 99‑year ground lease is clear, unambiguous and enforceable as written, and that the tenant's claim for reformation is barred by the six‑year statute of limitations. The decision rests on a plain‑meaning interpretation of the lease language and the principle that clear contracts must be enforced according to their terms.