Michelson, L.P. v. Corp. of the Presiding Bishop of the Church of Jesus Christ o
To observe that the value of real estate in Orange County increased from 1977 to 2002 would be an understatement. Nevertheless, the trial court declined to provide an upward adjustment in rent pursuant to a lease executed in 1977 and set to adjust in 2002 to a sum which the Lessor could derive from said property if it were made available on the open market for new leasing purposes. Court are asked to review this seemingly paradoxical result.
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