Term
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Definition
Comprehensive Environmental Response, Compensation, and Liability Act of 1980
SUPERFUND
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Term
| Who is the liability of CERLCA imposed on? |
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Definition
- Owners and operators of the property or facility at the time of the release
- the parties who owned and operated the property or facility at the time of the release
- the generator of the hazardous substance
- the transporter who took the hazardous substance from the site
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Term
Under CERLA...the government does not need to be involved if a private firm cleans up and then brings up the suit, and also the one who is most likely to pay the funds will be the one liable.
T/F |
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Definition
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Term
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Definition
| not involve testing or sampling....due diligence to see if measures are necessary..looking for a reason to inspect |
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Term
| When can a PRP be off the hook... |
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Definition
- due care with respect to waste and taken precautions against foreseeable acts or omissions of third parties
- if transfered...the transferee must be fully aware
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Term
If one is not involved in the contamination...he is not liable.
T/F |
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Definition
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Term
| To qualify as an innocent transferee, what must be done? |
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Definition
- no knowledge anything was disposed
- made an appropriate inquiry
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Term
| CERCLA risks for lenders x |
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Definition
- borrower may not be able to pay if found contaminated
- decline in value
- loss of priority
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Term
| Private restrictions fall into 5 categories: x |
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Definition
- Whimsical
- Benefits for retained land
- Keeping development attractive
- Affirmative covenants
- Condition's with reversions if violated
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Term
| It is unlikely the courts will enforce a covenant if the violation is minor....meaning |
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Definition
- value not lowered
- no intent
- minor
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