Salladay

This case involves an alleged forfeiture of a lease of a Nash touring- car. The respondents, by an instrument in writing, on March 18, 1919, leased to appellant the car in question for an agreed rental of $1,720, payable as follows: $270 in cash, $700 in two months and the balance in monthly installments of $62.50. It is provided in the lease that there should .be a monthly payment of $62.50 on May 18th, making the payment for that date $762.50; but both the complaint and answer show that this provision is a mistake and that only $700 was to be paid on that date. It is expressly provided that the lease shall terminate on May 18, 1920. An important provision of the lease reads: “Lessee acquires no interest or title to said property, it being distinctly understood that this is a lease.” (The italics are ours.) A further provision reads': “If the lessee fails to make any payments herein provided . . . then this lease shall ipso facto become immediately terminated, without any notice whatsoever to the lessee, and the lessors may take immediate possession, of said property without legal proceedings, etc.” Time is declared to be of the essence of the contract.

The respondents received…