The complaint in this case seeks to recover damages from the defendant arising out of an alleged breach of a contract to lease certain premises located at 807-813 Broad Street, Newark. The matter, by stipulation, was tried before the court without a jury.
The plaintiff is the owner of premises at 807-813 Broad Street, a portion of which was occupied on May 2, 1950, by I. Hausman & Sons, Inc., under a lease expiring April 30, 1952, providing for a minimum rental of $16,000 a year. On May 2, 1950, the defendant wrote a letter to Ralph G. Schwebemeyer & Co., renting agent of the premises, a copy of which reads as follows:
Ralph G. Schwebemeyer & Co.
Succeeding our numerous discussions of the subject together, we now advise that we are prepared to enter into a lease for the store premises and basement at 813 Broad Street, Newark, New Jersey,
formerly occupied by Hausman Shoes, provided we can do so on the following basis:
(1) The lease term to be six (6) years and eleven (11) months to commence on June 1, 1950 and to terminate on April 30, 1957.
(2) Premises to be devoted to the sale at retail of jewelry and optical goods, men's and women's ready-to-wear and furs, and appliances such as radios, television sets, refrigerators, ...