In May of 2018,Jones Went to C & C Bank

question 44

Multiple Choice

In May of 2018,Jones went to C & C Bank to apply for a loan on a home he wanted to purchase.C & C Bank loaned the money to Jones because he had excellent credit.C & C never inspected the property Jones was purchasing.Two weeks later,five rusty and leaking 55-gallon drums of a toxic substance were found buried in a creekbed in Jones' backyard.Jones and the Bank's position with regard to liability for cleanup on the property would be:

• A) liability would be imposed by CERCLA as strict liability for owners of contaminated property even if they acquired the property without knowledge of contamination.
• B) they would not be liable because they were innocent landowners as provided for in SARA,and they would have an automatic defense.
• C) that,if the Bank and Jones made an appropriate inquiry into the previous ownership and uses of the property before purchase,they may not be liable.
• D) if it could be proven that neither Jones nor the bank unlawfully disposed of the toxic waste,they could not be found liable under CERCLA.

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Definitions:

Capacity Expansion

Capacity expansion is the process of increasing the production capability of a facility to meet expected demand increases.

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A freight mode where a truck is filled to capacity with goods from a single shipper, optimizing transportation efficiency.

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Analytical frameworks and methods used to optimize the layout, connections, and functionality within supply chains and logistics networks.

Managerial Use

The application or utilization of resources or information by managers to make decisions, solve problems, and oversee operations.