insolvency of lessee


insolvency of lessee
In reference to re-entry by the lessor:-the failure of a lessee to meet obligations as they mature, or such financial condition as throws the lessee's relations into confusion, delays payment of the rent, impounds his property for an indefinite time, and in general makes it important for the lessor to be free to re-enter. Re Wil-Low Cafeterias Inc. (CA2 NY) 95 F2d 306, 115 ALR 1184, cert den 304 US 567, 82 L Ed 1533, 58 S Ct 950.

Ballentine's law dictionary. . 1998.