CIVIL LAW: equity, equitable relief, mutual mistake, reformation, privity, negligence, mortgage, assignee, bona fide purchaser, innocent third party
Corporate environmental performance has long been driven by outside influences such as regulatory requirements and market pressures. In fact, has been a critical business consideration since 1986, when the innocent purchaser defense was added to the Comprehensive Environmental Response, Compensation and Liability Act. The primary purpose of is to assess the impact of potential environmental risk on collateral value. There are several tools available to help corporations assess their environmental risk. One commonly used tool, the Phase I environmental site assessment, is prepared by an environmental professional. Corporate managers can also pre-screen properties for environmental issues from their desktop. Corporate managers can us...
... for shipment of such goods by a purchaser who acquired them in good faith in reliance on wri...31. This provision protects an innocent purchaser from an unwitting violation and also pro...
Certificate of Motor Vehicle Title Act — R.C. Chapter 4505 — Stolen vehicles — Thief cannot convey good title to bona fide purchaser for value without notice, although certificate of title appears valid — For purposes of Title Act, “stolen vehicle” includes vehicles stolen by fraud or deception — R.C. 4505.04 determines who has valid title to vehicle when thief acquires vehicle using counterfeit check and sells it to innocent purchaser for value.
... provision of this chapter, an innocent purchaser of an infringing semiconductor chip product - (1) ...
A question and answer address new requirements relating to obtaining a Phase I Environmental Report starting November 1, 2006. Whether a Phase I Report is needed will be determined by whether you - the lender - or your purchaser - borrower - wants to be in a position to take advantage of the innocent purchaser defense should it later be determined that there is, in fact, an environmental issue associated with the collateral property. Obtaining a Phase I Report may now be considered to be part of normal and customary due diligence for large commercial transactions. Whether you want to obtain a Phase I Report on every transaction or on consumer mortgage transactions is a risk decision that you need to evaluate.
If the state adopts the licensing program, regulators would oversee it as well to ensure that only qualified firms and individuals participate, and that approvals by licensed professionals are consistent with state requirements, says Joseph Fallon, president of Environmental Liability Management in Princeton and a former DEP manager. "Costs for remediating are fairly stable, although to dig material out and haul it away is more expensive as the cost of diesel fuel rises," says Peter Sorge, of JM Sorge, Inc.\n One possible solution is to require the entity completing the cleanup to obtain an insurance policy which would provide this assurance.
... and limit liability by establishing "innocent purchasers" for certain properties, he explains. B...
...Under this approach, the purchaser enters into a purchase contract with the landowner... the purchaser's entitlement to an "innocent purchaser" defense under applicable environmental ...
... actual or alleged; that Henderson was a purchaser, innocent and bon a fide, and paid, himself, the t...
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