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Real Property – Breach of Contract – Tort/Negligence – Fraud – Unfair Trade Practices – Hazardous Materials – Monitoring Wells (access required)

Metropolitan Group, Inc. v. Meridian Industries The defendant-seller covenanted that it had no “actual knowledge” of the presence or disposal of asbestos, fuel oil, or other hazardous or toxic substances on the land it was selling. The parties’ purchase agreement defines “actual knowledge” as “the current, actual conscious knowledge of the officers and employees of Meridian Dyed Yarn Group” as of the date of closing. Except as to asbestos, the plaintiff-buyer has failed to come forward with evidence that any of the seller’s officers or employees knew, on the date of closing, that such substances were present on the land.

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