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Attorney's Guide to Environmental Liability in Transactions.

The Attorney's Guide to Environmental Liability in Transactions approaches environmental islation, liability and related issues from a legal practitioner's point of view. The Illinois Institute for Continuing Legal Education The purpose of continuing legal education is to maintain or sharpen the skills of licensed attorneys and judges. Accredited courses examine new areas of the law or review basic practice and trial principles.  published this guide primarily to aid practicing attorneys, but it contains information that legislators or individuals interested in environmental issues will find useful.

The Attorney's Guide provides a concise overview of federal and state environmental legislation and issues that influence property and commercial legal transactions. It offers a discussion of environmental audits and environmental liabilities in the context of a "due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. " investigation. It continues with a discussion of liability under CERCLA CERCLA Comprehensive Environmental Response, Compensation, and Liability Act (aka SuperFund)  ("Superfund") and state property transfer laws. Finally, the guide analyzes several issues including the treatment of environmental liability in bankruptcy, environmental reporting requirements, environmental litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute.

When a person begins a civil lawsuit, the person enters into a process called litigation.
 and insurance coverage of environmental claims.

Legislators should find the guide's treatment of CERCLA liability and various state legislation noteworthy. It outlines the parties liable for cleanup costs under the statute and examines defenses to Superfund. The book also offers a timely discussion of lender and successor liability under CERCLA. The section on state property transfer laws groups legislation into two categories: laws requiring disclosure of environmentally troublesome conditions and laws requiring the cleanup, or guarantee of cleanup, of these conditions in connection with property transfers. This section also discusses state use of liens to recoup recoup

To sell an asset at a price sufficient to recover the original outlay or to offset a previous loss.
 hazardous waste Hazardous waste

Any solid, liquid, or gaseous waste materials that, if improperly managed or disposed of, may pose substantial hazards to human health and the environment. Every industrial country in the world has had problems with managing hazardous wastes.
 cleanup costs. in its analysis of state legislation, the Attorney's Guide uses statutes from New Jersey, Illinois, Minnesota and Connecticut to illustrate the different types of property transfer legislation.
COPYRIGHT 1993 National Conference of State Legislatures
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Author:Pysher, Suzanne
Publication:State Legislatures
Article Type:Book Review
Date:Nov 1, 1993
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