The Colorful Paint Company got a mortgage from the bank to purchase a factory to make paint. As part of its manufacturing process, Colorful Paint dumped the excess paint into a pit behind the building. This practice contaminated the property. If the bank foreclosed on the factory, would the bank be liable for cleanup costs of the contaminated land?
A) no, because it was an innocent landowner
B) no, because it did not contaminate the property
C) no, because it was a secured creditor
D) yes, because it owns the property
Correct Answer:
Verified
Q64: Name and discuss the three different categories
Q67: The NEPA procedures require that an environmental
Q69: Under the Clean Air Act (CAA), who
Q70: The oil spill that resulted in Congress
Q70: The EPA has identified a new hazardous
Q72: A local real estate developer wants to
Q73: An oil tanker crashes off the coast
Q75: The National Park Service is considering expanding
Q76: The legislation that established a process for
Q77: Name and discuss the functions of each
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents