Legal Question in Business Law in California

Re: bus lease

Well, probably not, but giving you a reliable answer would require looking at the contract you believe grants you an option to renew. Agreements containing options are a slippery slope. A lot of them are not as airtight as the option holder thinks. The option has to be exercised in the exact manner as provided, and not a second too late. The rights under the option are also often subject to loss upon the slightest default by the option holder, perhaps only being a day late with the rent, which might not be enough even to trigger a late charge.

Also, a subtenant cannot have any greater rights in the leasehold than the principal tenant has, so it's easily possible to have an option that's legally valid against the prime tenant, but if the prime tenant has lost its lease, it cannot deliver the promised space. You would then perhaps have a case for damages against the prime tenant, but I don't think you'd be able to enforce anything against the owner/landlord.