Steiner v. Thexton

Opinion

MORENO, J.

Plaintiff Martin A. Steiner, and his partial assignee, intervener Siddiqui Family Partnership (hereafter collectively referred to as plaintiffs), seek specific performance of a sales agreement with defendant property owner Paul Thexton. Based on language granting Steiner “absolute and sole discretion” to terminate the transaction, the Court of Appeal construed the agreement as an option and further concluded the option was revocable because it was unsupported by consideration. The Court of Appeal also rejected plaintiffs’ claim that promissory estoppel required the…