Is a lease agreement enforceable to determine the ascertainment of the rent payable under a renewal lease?
Saskatchewan, Canada
The following excerpt is from Tadman’s Limited v. Avenue Hotel Prince Albert Limited, 1956 CanLII 238 (SK QB):
It is well settled that in order to make the option granted enforceable the rent to be fixed, being one of the essential terms, must be ascertained or ascertainable. See House v. Brown (1907) 14 OLR 500. The issue, therefore to be determined is as to whether the agreement makes provision for the ascertainment of the rent to be payable under any renewal lease. In order to decide this issue it must be determined if clause 17 of the agreement constitutes an enforceable agreement to arbitrate such a matter.
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