Jensen

These appeals were briefed and -argued together. They involve the relative rights of the trustee in bankruptcy and the landlord of the bankrupt under a lease executed by appellant Albert Jensen and the bankrupt, November 30, 1928. This lease provides for the leasing of two lots in Superior, Pinal county, Ariz., for five years beginning upon the completion or occupation of the building to be constructed by the lessor. The lessee agreed to pay the sum of $175 per month on the first of each month. It was agreed that the lease was for five years and not from month to month. The lease provided that upon its execution the lessee should pay the lessor $1,500, “being, approximately, for the last eight and four-sevenths months of the five years period covered by the lease.” It was agreed that the lessor should pay interest on the $1,500 at the rate of 10 per cent, per annum, payable semiannually from the date of payment, “and shall continue in effect pro tanto, until the entire $1500 shall have been earned and absorbed by rent for the period to which it is made herein to pertain.”

On July 18, 1930, the bankrupt filed a petition in bankruptcy, and on July 21,1930, he was duly adjudged a…