United Properties Limited Co. v. Walgreen Properties, Inc.
New Mexico Court of Appeals
82 P.3d 535 (2003)
Relevant factsFree
UPL's (plaintiff) lease with Walgreen (defendant) required written renewal notice by September 30, 1999, but UPL, despite having invested over $1.2 million in capital improvements and generating substantial sublease income, forgot to give notice and only attempted to renew after Walgreen informed UPL on November 8, 1999 that the option had expired; the trial court ruled the late notice was still effective, and Walgreen appealed.
IssueFree
Whether, under contract law, equity will relieve a lessee of the consequences of negligently failing to give written renewal notice within the time required by the lease.