Wasserman's, Inc. v. Township of Middletown

Wasserman's (plaintiff) leased township property under an agreement whose cancellation clause entitled it, if the Township (defendant) canceled, to pro rata reimbursement for improvement costs plus damages equal to 25 percent of average annual gross receipts; after Wasserman's spent about $142,000 on improvements and sublet to Jo-Ro (co-plaintiff), the Township canceled the lease and sold the property. Wasserman's and Jo-Ro sued for the stipulated damages, and the trial and appellate courts awarded the full amount specified; the Township sought further review.