Petrolink, Inc. v. Lantel Enterprises

I.

INTRODUCTION

Plaintiff and appellant Petrolink, Inc. (Petrolink) returns to this court after two previous appeals, one from an original judgment, as discussed in Petrolink, Inc. v. Lantel Enterprises (2018) 21 Cal.App.5th 375 (Petrolink I), and the second from an amended judgment entered after remand in Petrolink I, as discussed and affirmed in Petrolink, Inc. v. Lantel Enterprises (Mar. 18, 2021, D076583) [nonpub. opn.] (Petrolink II). Petrolink filed an action against defendant Lantel Enterprises (Lantel), seeking specific performance of a lease agreement that gave Petrolink the option to purchase a commercial property owned by Lantel at fair market value; Lantel cross-complained against Petrolink, contending that Petrolink was refusing to purchase the property for its fair market value. The parties disagreed as to the valuation of the property and were effectively seeking a judicial determination as to the fair market value of the property so that they could complete the transaction. After years of litigation in the trial court, an appeal, a partial reversal of the judgment, remand, and further litigation, the trial court ultimately concluded that the fair market value of…