Legal Opinion
Penasquitos, Inc. v. Holladay
California Court of Appeal
Decided August 21, 1972No. Civ. 11231PublishedCited by 7 opinions
1Opinion of the Court
Opinion
BROWN (Gerald), P. J.
In July 1962, Jim Holladay and Robert Holladay, were tenants in common of some property in San Diego. They granted Irvin Kahn, later president and majority shareholder of plaintiff Penasquitos, Inc., a 99-year lease and option to buy the property. The minimum rent was $1,800 yearly per acre for the 5.86 net usable acres, plus 8 percent of the lessee’s gross yearly revenue from improvements and activities over $131,850. Some expenses were excluded. The option was to buy the property at $60,000 per usable acre, and it could be exercised in increments of one acre or…
2Cases cited5 opinions
- Schwartz v. ShapiroCalifornia Court of Appeal · 1964
- De Roulet v. MitchelCalifornia Court of Appeal · 1945
- Carolina Mineral Co. v. YoungSupreme Court of North Carolina · 1941
- Pine v. TiedtCalifornia Court of Appeal · 1965
- Elbert, Ltd. v. Federated Etc. PropertiesCalifornia Court of Appeal · 1953
3Cited by7 opinions
- Canavin v. Pacific Southwest AirlinesCalifornia Court of Appeal · 1983
- American Medical International, Inc. v. FellerCalifornia Court of Appeal · 1976
- Kwang Hoon Kim v. Song YiCalifornia Court of Appeal · 2006
- MILLERS'MUT. INS. v. Iowa Nat. Mut. Ins. Co.District Court, D. Colorado · 1985
- Orien v. Lutz, California Court of Appeal, 5th District2017
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