Anand v. BP West Coast Products LLC, 484 F. Supp. 2d 1086 (C.D. Cal. 4-12-2007)

For an offer for sale of station premises to be bona fide under the objective standard adopted by the court, it must ?approach fair market value.? On the basis of testimony that differences "as much as 20 percent or more" could separate two competent appraisals, court concluded that franchisor?s appraisal of $1,131,000 and franchisee?s appraisal of $950,000 fell ?within the range of values? that approach fair market value, and that franchisor?s offering price was, accordingly, bona fide. Reservation of mineral rights by franchisor, as well as other covenants and restrictions, did not diminish bona fide nature of offer, since they did not impair franchisor?s ability to continue operating the location as a service station.