301 Mass. 278 | Mass. | 1938
This is a petition for dissolution of a corporation, under G. L. (Ter. Ed.) c. 155, §§ 50-53. The corporation has been in bankruptcy, where all proved claims were paid in full, leaving a balance of assets in the hands of the corporation at the filing of the present petition. A receiver was appointed on March 8, 1933, and June 1, 1933, was fixed as the time before which claims
The disallowed part of each claim consisted of the taxes which became due and payable to the city of New York on May 1, 1933, upon real estate in New York leased by the respective claimants to the corporation, which taxes the corporation by the respective leases had agreed to pay. In the lease given by Kaskel, the corporation agreed that it would “punctually pay and discharge all taxes” and “such taxes . . . shall be paid within sixty days after the same shall become due and payable. And it is further agreed that if any such amounts shall not be paid at the time or in the manner aforesaid the same shall be added to and become part of the month’s rent next thereafter to become due and be collectible therewith, and that the landlord may pay the said amounts or any of them, in which event the amount so paid shall be repaid to the landlord by the tenant with interest within ten days of such payment, provided the same shall not theretofore have been paid with and as part of the rent; but the right of the landlord to recover said sum with and as part of said rent shall not be dependent upon his payment of the same.” Rent under this lease was payable on the first day of each month in advance.
The receiver contends that, under the terms of the Kaskel lease, the failure to pay the taxes on May 1, 1933, did not give the landlord at once a matured claim, which became payable and upon which he could sue in sixty days. The receiver contends that the exclusive remedies of the landlord were to wait sixty days, and then either (a) treat the unpaid taxes as “added to and become part of the month’s rent next thereafter to become due,” or (b) pay the taxes and sue for them with interest at the end of ten days more. In the former alternative, no claim could be said to be matured on the crucial date, June l, 1933, for the rent to which the unpaid taxes were to be added could not be any rent due before July 1, 1933. Whether any rent would become due July 1, 1933, could not be determined until that day. “Before the day at which rent is covenanted to be paid, it is in no sense a debt; it is neither debitum nor solvendum; for if the lessee is evicted before that day, it never becomes payable.” Deane v. Caldwell, 127 Mass. 242, 244. Bowditch v. Raymond, 146 Mass. 109. Towle v. Commissioner of Banks, 246 Mass. 161, 167-168. Security System Co. v. S. S. Pierce Co. 258 Mass. 4, 5-6. In the latter alternative, payment of the taxes, which could not be made for sixty days or until about July 1, 1933, was a condition precedent to the creation of any cause of action. In either alternative, there would be no matured claim existing at the crucial date, June 1, 1933.
The decisive question therefore is, whether the remedies stated in the Kaskel lease were in truth exclusive, or, on
The exceptions of Kaskel are overruled, and those of Browning are sustained. The decree appealed from' is to be modified by allowing the disallowed part of the Browning claim, and as so modified it is affirmed.
Ordered accordingly.