Ocean Petroleum, Co. v. Yanek

This appeal arises out of a declaratory judgment action filed in Circuit Court for Worcester County, in which Appellant, Ocean Petroleum Co., and Appellees, Dorothy Yanek and the Estate of Victor Yanek, sought to establish the meaning of “fair market value” as that term appears in an option to purchase provision of a lease agreement between these parties. For the foregoing reasons, we affirm the judgment of the Circuit Court.

I

Appellant owns and maintains a convenience store and other improvements, the “85th Street Wine Rack,” on a piece of property located at 8501 Coastal Highway in Ocean…