New York Court of Appeals

City Bank Farmers Trust Company, as Trustee Under the Will of G. Waldo Smith, Deceased, Appellant v. G. Waldo…

January 9, 1934263 N.Y. 292

Summary

The Court affirmed the dismissal of the complaint, holding that a trustee lacks authority to modify the rent terms of a lease exceeding five years without obtaining a new court order. The Court reasoned that the statutory mandate requires court approval for any alteration of such leases, and the plaintiff failed to show a substantial doubt justifying advisory jurisdiction.