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James purchased an abandoned lot. When he started to develop the land, he discovered several underground storage tanks containing hazardous waste buried on the site. He claims the seller, Richards, is liable to him for the cost of removing the tanks. Richards claims he owned the lot for 20 years and never knew of the underground tanks. Richards argues he purchased the land from Thomas and that Thomas or his heirs are liable for the cost of removing the underground tanks. describe whether Richards is liable to James. Does Thomas or do his heirs have any liability to James or Richards?  

Business Law & Ethics, Finance

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