In Utah Coal & Lumber Restaurant, Inc. v. Outdoor Endeavors Unlimited, 2001 UT 100, 40 P.3d 581, the Court stated that "the failure to strictly comply with a lease's option renewal terms may be equitably excused only when the failure is caused by instances of fraud, misrepresentation, duress, undue influence, mistake, or the lessor's waiver of its right to receive notice." Id. In line with previously established principles of equitable relief, we also stated that "equity should not be applied in situations where negligence, inadvertence or neglect caused the failure to exercise a lease renewal option." Id. In so holding, Utah Coal expressly rejected the balancing test first applied in F.B. Fountain Co. v. Stein, 97 Conn. 619, 118 A. 47 (1922). Id. Thus, Utah Coal makes it clear that courts do not need to inquire into, nor do we need to address, the level of negligence that may contribute to a lessee's failure to timely exercise its option.