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N.J. IND. PROPERTIES v. Y.C. & V.L., INC.

100 N.J. 432 (1985)

495 A.2d 1320

N.J. INDUSTRIAL PROPERTIES, INC., A NEW JERSEY CORPORATION, PLAINTIFF-APPELLANT, v. Y.C. & V.L., INC., A NEW JERSEY CORPORATION, VITO LICARI, INDIVIDUALLY, AND YAFFA LICARI, INDIVIDUALLY, DEFENDANTS-RESPONDENTS.

The Supreme Court of New Jersey.

Decided July 31, 1985.

Attorney(s) appearing for the Case

Martin F. Siegal argued the cause for appellant (Farer, Siegal & Fersko, attorneys; Jack Fersko, on the brief).

Timothy Boderck argued the cause for respondents (Eichler, Forgosh, Gottilla & Rudnick, attorneys).

The opinion of the Court was delivered by GARIBALDI, J.

The sole question here is whether the landlord or the defaulting tenant receives the rent, in excess of that due under the original lease, that the landlord collects from a subsequent tenant for the unexpired term of the original lease. Specifically, the issue is whether the excess rent is to be applied retroactively as a full credit against the rent the prior defaulting tenant owes for the period the property...

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